The UAE financial markets ended in the green, while the Saudi market closed in the red on Wednesday, amid further monetary tightening by the US Federal Reserve and most of the GCC central banks with another round of 0.75 point hike in interest rates.
The Dubai bourse’s main share index gained 0.66 percent, with blue-chip developer Emaar Properties gaining 2 percent to close at AED6.090 and DEWA closing 1.62 percent up at AED2.510.
The Abu Dhabi stock exchange closed marginally higher by 0.16 percent, with share prices of FAB, Alphadhabi and Aldar ending higher at AED17.980, AED25.2 and AED4.3, respectively.
Market analysts attributed the reason for the upbeat sentiments to the robust corporate earnings for the third quarter of 2022, though there was caution persisting on interest rate hike decision.
Saudi Stock Exchange’s main index ended trading lower on Wednesday, losing 0.15 points to close at 11530.29 points. The total value of the trading reported was SAR 6.9 billion.
The Saudi Parallel Market Index (NOMU) ended the day losing 234.16 points, to close at 19366.08 points, with a valuation of SAR 11 million.
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