Home » Toll Operator Salik Raises Dubai, Abu Dhabi Falls – Markets Pi News

Toll Operator Salik Raises Dubai, Abu Dhabi Falls – Markets Pi News

by Dubaiforum

The Dubai stock exchange closed higher on Friday, boosted by gains in payments operator Salik, while the Abu Dhabi index fell.

Dubai’s main index rose 0.7 percent after the company announced plans to build two new toll gates in Dubai to optimize traffic flow and reduce congestion, led by a 5.2 percent rise in toll operator Salik. explained.

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Also, Emirates NBD Bank, Dubai’s biggest lender, rose 1.5 percent after raising $450 million from the sale of 5-year Formosa bonds, the bank said in a filing.

Meanwhile, Abu Dhabi’s benchmark index fell 0.1%, extending losses to a sixth straight session, while International Holding Company and IHC-owned Alpha Dhabi Holdings each fell 0.8%.

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Losses in the Abu Dhabi index were capped by a 2 percent gain in the UAE’s biggest lender, First Abu Dhabi Bank, and a 1.8 percent gain in Abu Dhabi Commercial Bank.

The Dubai and Abu Dhabi indexes posted weekly losses of 0.6% and 0.8%, respectively, according to LSEG.

Alternative asset manager Investcorp Capital rose 9.2 percent, its biggest daily gain since its listing in mid-November 2023, after HSBC initiated coverage on the company’s shares with a “buy” rating and a target price of AED 2.51.

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 ABU DHABI     dropped 0.1% to 9,712
 DUBAI         gained 0.7% to 4,082
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