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Insurers halt Abu Dhabi market decline

The Abu Dhabi equity market index ADXGI advanced by 0.14 per cent to hit 4,876.49 per cent at on Wednesday, June 11, ending a three-day losing streak.  Islamic insurance firms Watania and Methaq Takaful Insurance Company jumped 5.83 per cent, finishing at AED1.09. Around 215 million shares were traded valued at AED652 million. Earlier in the day, Arjuna Mahendran, the chief investment officer at Dubai’s biggest bank Emirates NBD said in his weekly market commentary published earlier today that “UAE markets are expected to continue their uptrend (from the first five months this year) to the end of the year with the usual mid-summer volatility and dips offering buying opportunities.”

Gérard Al-Fil