Dubai and Abu Dhabi stock market report 12 March 2007
| best stock rises |
| symbol |
price |
change |
| WARE |
23.50 |
+1.75 |
+8% |
| OEIHC |
20.25 |
+1.35 |
+7.1% |
| TKFL |
3.23 |
+0.19 |
+6.3% |
| AKIC |
1.88 |
+0.11 |
+6.2% |
| NCC |
15.05 |
+0.70 |
+4.9% |
|
| worst stock falls |
| symbol |
price |
change |
| ARIG |
2.71 |
-0.29 |
-9.7% |
| RAKWCT |
1.70 |
-0.16 |
-8.6% |
| UNB |
6.79 |
-0.42 |
-5.8% |
| EMAAR |
11.95 |
-0.65 |
-5.2% |
| UCC |
4.02 |
-0.18 |
-4.3% |
|
| top volume |
| symbol |
value (AED) |
price |
| EMAAR | 756,753,840 | 11.95 | |
DFM | 161,220,384 | 2.11 | |
DIC | 54,878,876 | 4.32 | |
IAIC | 51,612,690 | 2.84 | |
TAMWEEL | 44,713,719 | 3.80 | |
Big market news for today was of course the results of the Emaar
AGM. Perhaps not the best day to hear about the start of the Air
Arabia IPO - it kicks off on 18 Mar 2007.
Dubai Financial Market
DFM promptly plummeted on opening from 4090 to 3962 as shareholders hammered Emaar shares after the AGM voted a 20% cash dividend. The index then recovered to 4010 within minutes and drifted about the 4000 level for the rest of the session. Total volume for the DFM of AED 1.2 billion and a 2% fall to close at 4010. Emaar Properties PJSC (EMAAR) ended down by 5.1% to close at 12.05 with a total of 757m dhs worth of shares traded - over 60% of the total for DFM.
The only two stocks from the active list to increase were Arabtec Holding PJSC (ARTC) up 1.1% and Tamweel PJSC (TAMWEEL) up 1.6% with a healthy looking 45m dhs worth of shares traded.
DFM shares crashed another 3.1% to 2.12 with 161m dhs worth traded. The remaining actively traded stocks fell between 0-2%.
Abu Dhabi Securities Market
ADSM was moderately busy today despite all the action at DFM. The index fell 1.5% to close only just above 3000 points on volumes of 211m dhs worth of trading.
A big increase of 6.3% to 3.23 on reasonable volume for TKFL was the only noteworthy rise today. Small increases on moderate volumes for National Bank of Abu Dhabi (NBAD) up 1.2%, and less than 1% increases for Abu Dhabi National Company for Building Materials (BILDCO), First Gulf Bank (FGB), and Gulf Cement Company (GCEM).
Most stocks fell with big falls on significant volumes for Union National Bank (UNB) down a scary 5.8% to 6.79, Dana Gas PJSC (DANA) down 3.4% to 1.44, Aldar Properties PJSC (ALDAR) down 3.7% to 4.12, Ras Al Khaimah Properties PJSC (RAKPROP) down 2.9%, and Abu Dhabi Islamic Bank (ADIB) down a less frightening 1.9%.
