Dubai and Abu Dhabi stock market report 14 February 2007
| best stock rises |
| symbol |
price |
change |
| NBQ |
4.80 |
+0.40 |
+9.1% |
| GULFNAV |
1.30 |
+0.08 |
+6.6% |
| NCC |
11.90 |
+0.55 |
+4.8% |
| AMLAK |
3.89 |
+0.18 |
+4.9% |
| GGICO |
8.90 |
+0.39 |
+4.6% |
|
| worst stock falls |
| symbol |
price |
change |
| RAKCEC |
4.97 |
-0.30 |
-5.7% |
| CBI |
2.65 |
-0.10 |
-3.6% |
| FH |
8.49 |
-0.31 |
-3.5% |
| ADSB |
2.66 |
-0.07 |
-2.6% |
| INVESTB |
2.47 |
-0.05 |
-2% |
|
| top volume |
| symbol |
value (AED) |
price |
| EMAAR |
609,651,106 |
13.25 |
| GULFNAV |
214,993,664 |
1.30 |
| DIC |
158,373,575 |
4.53 |
| ADIB |
110,377,590 |
49.90 |
| AMLAK |
95,752,397 |
3.89 |
|
The Valentines rally seen on the DFM did not inspire the traders on the ADSM. The broadly based rally on the DFM on good volume is a significant change of sentiment from the weeks trading so far. A few more days of these sort of gains and we might be able to call an upward trend.
As for the ADSM, it seems poised but nobody is game to light the fuse. Views welcome on the Forum.
Dubai Financial Market
The DFM market index was sharply up today rising to 4215 a gain of 1.5% from yesterdays close. The gains were broadly based with 16 stocks up and only two down. In all 306 million shares were traded.
GFH was the big winner on the day with a gain of over 6% and 164 million shares changing hands.
Other gainers with significant volume included Dubai Investments PJSC (DIC) (3.6%), Amlak Finance Company (AMLAK) (4.79%), Emaar Properties PJSC (EMAAR)(1.92%) and Tamweel PJSC (TAMWEEL)(2.93%).
Losers were hard to find but included National Bank of Dubai (NBD) and AMAN both on small volumes.
The most significant point of todays trading is the healthy volume and broad nature of the rally. Look for the rally continuing tomorrow.
Abu Dhabi Securities Market
The ADSM market index finished at 2942 slightly down (.19%) from yesterdays close. Trading volume was subdued with 38 million shares changing hands. 20 stocks advanced and 16 declined.
The big mover for the day was NBQ rising 9% on one trade of 10,000 shares.
Other gainers on significant volume were Sorouh Real Estate (SOROUH) (1.83%), Aldar Properties PJSC (ALDAR)(2.96%) and ABAR(.58%).
The only loser on significant volume was Emirates Telecommunications Company (ETISALAT) down 1.87%.
ADSM is still struggling with lack of volume and failure to break through the 3000 index level.
