Dubai and Abu Dhabi stock market report 20 February 2007
| best stock rises |
| symbol |
price |
change |
| AKIC |
2.00 |
+0.16 |
+8.7% |
| DANA |
1.54 |
+0.12 |
+8.5% |
| FH |
8.49 |
+0.58 |
+7.3% |
| TAQA |
2.07 |
+0.13 |
+6.7% |
| TKFL |
2.95 |
+0.18 |
+6.5% |
|
| worst stock falls |
| symbol |
price |
change |
| NBQ |
4.40 |
-0.40 |
-8.3% |
| OIC |
15.25 |
-0.80 |
-5% |
| CBI |
2.51 |
-0.09 |
-3.5% |
| FOODCO |
3.82 |
-0.08 |
-2.1% |
| IAIC |
2.88 |
-0.05 |
-1.7% |
|
| top volume |
| symbol |
value (AED) |
price |
| DIC |
327,485,557 |
4.76 |
| EMAAR |
315,836,035 |
13.35 |
| IAIC |
158,609,538 |
2.88 |
| AMLAK |
119,626,885 |
4.04 |
| UPP |
119,111,803 |
3.36 |
|
Dubai Financial Market
A small rise of 0.5% in the DFM index on increased volumes of 1.4 bn dhs disguised some eyebrow raising volumes today. Dubai Investments PJSC (DIC) was well up on normal volume with 327m dhs worth of trading putting it at the top of the list, just ahead of Emaar Properties PJSC (EMAAR)'s 316m dhs and no change in price. Dubai Investments had a small increase of 1.3%. Unlikely that today's activity is related to the news of AED
20 bn in Dubai Investments Park, which is a couple of days old now.
Amlak Finance Company (AMLAK) picked itself up out of the recent slump and had a 2.5% rise from 120m dhs of trading, Union Properties PJSC (UPP) also had a 2.5% rise and 120m dhs volume. Aramex PJSC (ARMX) had the biggest rise of 3.2% from a solid 45m dhs worth of trading (ignoring the increases from single trades in Dubai National Insurance & Reinsurance Co. (DNIR) and GGICO).
Islamic Arab Insurance Company PSC (IAIC) the big loser today with a 1.7% decrease and 160m dhs of trading. No surprise really after yesterday's massive rise. GULFNAV the only other actively traded stock to fall with a 1.6% drop. OIC which rarely trades had a handful go through and a fall of 5% to 15.25 dhs.
Abu Dhabi Securities Market
ADSM had an outstanding day with the index steaming up by 1.6% to crack through 3000 points and finish at 3035 after a prolonged period below that level. Volume was a staggering 528m dhs worth, several times the daily average for the past few months. Could this be the end of the slump?
Dana
Gas PJSC (DANA) the outstanding performer with a 9.9% increase the highest
of the day, and 75m dhs of trading almost the ADSM high today - prompted by their
drilling plans
in Egypt. Aldar
Properties PJSC (ALDAR) roaring ahead yet again with a 5.7% increase and
volume just over 100m dhs worth. Other big increases and trading volumes from Sorouh
Real Estate (SOROUH) up 5.5%, Ras
Al Khaimah Properties PJSC (RAKPROP) up 4.8%, Abu
Dhabi National Energy Company (TAQA) up 6.7%, and Aabar
Petroleum Investments Company PJSC (AABAR) up 5.4%.
Abu Dhabi Islamic Bank (ADIB), Emirates Telecommunications Company (ETISALAT), and Sudan Telecom Company Ltd (SUDATEL) were the stocks that got left behind with slides of about half a percent each on significant volumes. Other falls were from very low volumes.
