Dubai and Abu Dhabi stock market report 27 February 2007
| best stock rises |
| symbol |
price |
change |
| ADNH |
5.22 |
+0.47 |
+9.9% |
| ADSB |
2.86 |
+0.21 |
+7.9% |
| AABAR |
2.41 |
+0.13 |
+5.7% |
| TAQA |
2.27 |
+0.11 |
+5.1% |
| NCC |
13.70 |
+0.65 |
+5% |
|
| worst stock falls |
| symbol |
price |
change |
| ASMAK |
3.43 |
-0.37 |
-9.7% |
| OEIHC |
24.90 |
-2.55 |
-9.3% |
| EIC |
12.55 |
-0.60 |
-4.6% |
| ARIG |
2.83 |
-0.13 |
-4.4% |
| ADNIC |
8.15 |
-0.34 |
-4% |
|
| top volume |
| symbol |
value (AED) |
price |
| SOROUH | 193,070,282 | 2.99 | |
EMAAR | 110,609,380 | 13.05 | |
AABAR | 108,245,103 | 2.41 | |
TAQA | 98,189,301 | 2.27 | |
ETISALAT | 79,981,653 | 16.80 | |
Dubai Financial Market
DFM
volumes a relative trickle today with only 272m dhs worth of trading while
down the road, ADSM was much more hectic. The DFMGI index had a reasonable
rise of 0.7% to 4209 points with little movement of any note in individual
shares.
Emaar Properties PJSC (EMAAR) stagnant again today closing at an unchanged 13.05 dhs with just 111m dhs of trading. Most actively traded stocks rose about 1% or less, biggest rises of 5% from NCC and National Bank of Dubai (NBD) on negligible volumes.
Falls of 1.5% from Arabtec Holding PJSC (ARTC) and 0.8% from GULFNAV. Biggest fall of 4.4% for Arab Insurance Group (ARIG) from a handful of trades.
Abu Dhabi Securities Market
ADSM volumes of 717m dhs almost triple that of DFM, it seems all the punters have headed down to Abu Dhabi for their trading this week. The index rose 0.75% to close at 3080 points with healthy increases in several stocks.
Aabar Petroleum Investments Company PJSC (AABAR) went limit up today with many buyers in the queue by the end of the trading session but no sellers. Share price closed at 2.50 dhs with volumes of 108 dhs. Average price of 2.41 was 5.7% up from yesterday's close.
Abu Dhabi National Energy Company (TAQA) was another limit up stock today with nobody wanting to sell to the queue of waiting buyers, average price of 2.27 up 5.1% from yesterday and 98m dhs worth of trades.
Most unusual trading activity today has to be for Commercial
Bank International (CBI) with only 3 deals but one of them for a huge 30m
shares with a value of 75.9 million dhs, putting them high up on ADSM's value
traded table. Closing price was 1.6% up from yesterday or whenever their last
trade was.
Sorouh
Real Estate (SOROUH) topped the volume table with 193 dhs worth of trading
and a 2.4% rise to 2.99. Increases on big volumes for Emirates
Telecommunications Company (ETISALAT) up 2.1% and 80m dhs worth after announcing
a 35% dividend
for 2006 H2,
and Dana
Gas PJSC (DANA) up 1.3% and 25m dhs. Other rises on significant trading volumes
for Gulf
Cement Company (GCEM) up 1.2%, and National
Bank of Abu Dhabi (NBAD) up 0.2%.
Despite the overall increase, more stocks actually fell than rose on ADSM today - but the difference was only one. Big volume falls from Abu Dhabi Commercial Bank (ADCB) down 1% and 24m dhs worth, and Aldar Properties PJSC (ALDAR) down 0.2% and 51m dhs. Other shares falling on moderate volumes were ARKAN down 1.7%, Ras Al Khaimah White Cement Company (RAKWCT) down 2.6%, Sudan Telecom Company Ltd (SUDATEL) down 0.3%, and Abu Dhabi Islamic Bank (ADIB) down 2.3% after their EGM
approved a convertible sukuk for EIIC investment.
