Dubai and Abu Dhabi stock market report 18 March 2007
| best stock rises |
| symbol |
price |
change |
| ASMAK |
4.92 |
+0.42 |
+9.3% |
| ADNH |
5.15 |
+0.43 |
+9.1% |
| ADNIC |
8.57 |
+0.57 |
+7.1% |
| TAQA |
2.04 |
+0.13 |
+6.8% |
| ALDAR |
4.32 |
+0.27 |
+6.7% |
|
| worst stock falls |
| symbol |
price |
change |
| OEIHC |
16.20 |
-1.75 |
-9.7% |
| AMAN |
15.70 |
-1.25 |
-7.4% |
| TKFL |
3.52 |
-0.27 |
-7.1% |
| SHUAA |
4.48 |
-0.25 |
-5.3% |
| DNIR |
3.38 |
-0.15 |
-4.2% |
|
| top volume |
| symbol |
value (AED) |
price |
| EMAAR | 422,121,997 | 11.95 | |
DFM | 124,918,858 | 2.11 | |
ALDAR | 92,501,021 | 4.32 | |
TAQA | 59,631,707 | 2.04 | |
GULFNAV | 54,664,910 | 1.11 | |
Dubai Financial Market
DFM rose sharply in early trading, almost hitting 4000 points, but then spent the rest of the day in a steady decline to close at 3913 points. Volume moderate at 770m dhs worth of deals.
Only 4 stocks saw green today and the only one of any note was Union Properties PJSC (UPP) up 0.9% to 3.19, although MAZAYA with its three small trades and 6.3% jump is worth a mention since they trade so rarely.
Lots of red ink on DFM with the biggest pot needed for AMAN down by 7.5% although volume was very low. Shuaa Capital PJSC (SHUAA) collapsed by 5.4% to 4.35, just about where it was before the Shuaa buyback began last week. Emirates Integrated Telecommunications Company (DU) not looking healthy with a 3.7% fall to 5.20.
Emaar Properties PJSC (EMAAR) flat at 11.80 with volume about half the total for DFM. Not much of a reaction in the market to the news they'll be handing out 2.4 billion shares to Dubai Holding. DFM shares fell 2.8% on moderately heavy trading, continuing last weeks demise except for an upwards blip on Thursday.
Abu Dhabi Securities Market
While DFM slumped, ADSM rocked ahead by 1% to close at 3031 points on solid volumes of 393m dhs worth of trading. Yesterday's news of changes
to insider trading restictions on ADSM probably just a coincidence but an encouraging one nonetheless.
A huge day for Aldar
Properties PJSC (ALDAR) going 10% limit up to 4.45 and 93m dhs worth of shares
traded - which no doubt would have been more if there had been sellers keen to
hand over their stakes to the queue of waiting buyers. Hopefully their lemonade
stand in Cannes (Aldar
at MIPIM property show) is doing just as well.
AGTHIA also standing out (again), going 10% limit up to 1.28. Total traded volume for the day a decent 17m dhs despite the lack of sellers.
Big trading and increases for Abu Dhabi National Energy Company (TAQA) up 6.8% to 2.04 and 60m dhs volume, and Sorouh Real Estate (SOROUH) up 5.1% to 2.86 and 53m dhs volume. Other increases on major volumes were Ras Al Khaimah Properties PJSC (RAKPROP) up 2.9%, Dana Gas PJSC (DANA) up 1.4%, ARKAN up 1.8%, Emirates Telecommunications Company (ETISALAT) up 1.2%, Aabar Petroleum Investments Company PJSC (AABAR) up 4.5%, Abu Dhabi National Company for Building Materials (BILDCO) up 3.4%, and Abu Dhabi Islamic Bank (ADIB) up 1.5%.
It almost seems a shame to dwell on the losers but there were a couple of undignified results. TKFL plummeted 7.1% to 3.50 after big gains last week, but volume was relatively insignificant. The only stocks to fall on any conspicuous volumes were National Bank of Abu Dhabi (NBAD) down by 1.6% to 24.60, and NBS (or SIB) down by 1.4%.
