Fri, Nov 15, 2024 | Jumada al-Awwal 13, 1446 | DXB ktweather icon0°C

UAE Cabinet raises daily decline limit in shares to 10% from February 28

Abu Dhabi - The development comes in implementation of a cabinet decision.

Published: Wed 24 Feb 2021, 10:07 PM

Updated: Wed 24 Feb 2021, 10:09 PM

  • By
  • Wam

Top Stories

The new cap means that share prices of each listed company can now drop by a maximum of 10 per cent, instead of five per cent. — File photo

The new cap means that share prices of each listed company can now drop by a maximum of 10 per cent, instead of five per cent. — File photo

Stocks listed on the UAE’s bourses will see their limit cap rising to 10 per cent from the current five per cent, effective February 28th, the Abu Dhabi and Dubai markets said on Wednesday.

The development comes in implementation of a cabinet decision whereby the stock markets shall revert back to the above mentioned cap from the 5 per cent one, which was set in March 2020.

The new cap means that share prices of each listed company can now drop by a maximum of 10 per cent, instead of five per cent.

The Securities and Commodities Authority in March 2020 decided to reduce the limit cap per day to five per cent of the last closing price in order to contain the fluctuations, triggered by the coronavirus.



Next Story