Optimistic expectations of earnings ignited a rally in the banks in Abu Dhabi today morning, resulting in the stocks ending in the higher capital.

The Abu Dhabi Securities Exchange General Index gained by 0.19% up to 2,596.40 points during initial trading, resulting higher by a couple of the biggest banks of the emirates.

Initially, Gulf Bank raised by 1.87% to Dh16.30 per share, and the National Bank of Abu Dhabi profited by 0.97% to go up to Dh10.40. The two stocks happened to be two of the largest weightings on the ADX index.

But the positivism could not filter through to the bank stocks on the Dubai Financial Market, which decreased by 0.83% down to 1,544.68 points, and fell further downward by a 4.4% decline among the shares of Dubai Islamic Bank.

Also, Asian stocks had been flat throughout the night, in the wake of the Nikkei 225 moving up by 0.07% up to 9,591.50, while the Hang Seng index fell by 0.1% down to 24,259.73 points.

Not having any strong catalysts driving stocks in any of the two directions, traders suggested that the markets might begin creeping upwards in the form of risk-taking returns to the market.