UAE daily stock market reports for Abu Dhabi Securities Market (ADSM) and Dubai Financial Market (DFM) - RSS feed

Tuesday, December 26, 2006

RAKPROP & ETISALAT 26 Dec 06

Dubai and Abu Dhabi Market news & discussions today

UAE Market Report for Tuesday 26 December 2006

Another day, another fall. For DFM and ADSM at least, although no shares on DFM fell more than 2%. Trading volumes were low for DFM but up for ADSM - mostly due to heavy trading in Etisalat shares with a 1.5% fall. Saudi's Tadawul (TASI) is up slighty so far today by 0.1% to 7869 points and average volume of 5.1 billion riyals.

Dubai Financial Market

DFM had a 0.3% fall to 4078 points with only 345m dhs worth of trading. EMAAR remained flat at 12.00 dhs and 210m dhs worth traded. UPP the only one of the more active DFM stocks to show an increase (+0.7%, 3.00). TABREED and SHUAA were unchanged. TAMWEEL, AMLAK and ARMX all falling a little over 1%, and ARTC, DIC, DIB and IAIC all falling less than 1%.

EBI (-0.4%, 13.00) had a small decrease on usual trading activity with 350,000 shares changing hands. ARIG (+5.3%, 2.59) was also busier than normal with almost 200,000 shares traded (highest daily volume in over 6 months) and the largest increase for the day - makes sense really since there were a couple of big drops in ARIG this week. OIC (Oman Insurance Company, +3.9%, 16.10) traded for the first time this month but only 2,000 shares were exchanged. AMAN (+3.4%, 19.65) volumes were down a bit today.

Abu Dhabi Securities Market

The ADSM index was down by just a point to 2927 with ETISALAT (-1.5%, 16.70) trading a heavy 57m dhs worth. Perhaps Shuaa's speculation that Etisalat may buy part of Wataniya has something to do with it? The only other news today is Etisalat charging more for directory enquiries calls - seems unlikely the market reacted in such a big way to that. RAKPROP (+5.1%, 1.44) was also much more active than normal with 18.5m dhs worth of trading and the biggest rise of the active stocks on ADSM - that's on top of a 4% rise yesterday. No news on SCA or ADSM sites. Total trading on ADSM of 148m dhs (50% more than yesterday) from 1457 deals with 18 stocks up, 16 down and 2 unchanged.

ALDAR (+2.8%, 3.63) and ADIB (+3.4%, 51.75) showed decent increases. DANA, AABAR, ADCB, RAKCC all rose 1% or less on normal volumes. SOROUH, TAQA, SUDATEL, OILC, FGB, GCEM all fell less than 2%.

A big plunge from FOODCO (-9.6%, 4.63) today from 18 deals - maybe more would have gone through but there were no buyers in the queue. Higher than normal volumes the past two days. FH (Finance House, -7.1%, 7.72) also with a large drop on increased volume today although the last trades were back up to where it started.

Big rises from some rarely traded stocks: FCI (+8.8%, 4.19, 3 trades), NBF (+9.9%, 5.00, 1 trade), RAKBANK (+10%, 7.05, 1 trade), and falls from ASMAK (-9.4%, 3.76, 1 trade), AKIC (-6.9%, 1.90, 1 trade), RAKWCT (-5%, 1.71, 7 trades), RAKCEC (-8.5%, 5.72, 3 trades).

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