UAE stocks rise in busy trade

Shares on the United Arab Emirates (UAE) stock market ended the week higher in busy trade that focused on market leaders and recently listed issues.

The National Bank of Abu Dhabi NBAD CN share index closed 23.62 points higher at 2669.64 from 2646.02 points a week earlier.

Brokers attributed the rise mainly to a 15 dirham increase in the NBAD share price to 590 dirhams from 575 and a 10 dirham increase in market leader Etisalat to 1,020 from a previous 1,010.

They said shares of the newly listed Oasis Leasing Co. traded at 20 dirhams early in the week and 17 on July 26.

Emaar Properties Co. shares traded at 18 and Dubai Investment Co. at 13, unchanged from the previous week.

Abu Dhabi National Hotels Co. gained two to 130 and Dubai Islamic Bank closed five higher at 160.