DFM & ADSM reports

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Sunday, September 30, 2007

UAE markets 30 Sep 2007

UAE market news & discussions for 30 September 2007

The last day of September 2007 saw none of the promised news from Emaar on their JV with Dubai Holding. Disappointing but not unexpected. Aldar Properties had a storming day on the ADSM, with closing prices almost limit up. Sorouh Real Estate also had a solid day. While at the DFM, trading was heavy in Air Arabia shares, which saw a small gain.

Etisalat were reported to be considering the purchase of a mobile licence for Sudan. They already have a share of the fixed line market through their affiliate, Canar Telecom.

Arabtec said they would not be looking at further projects in the next 6 months as their resources were fully stretched with current developments, including the recently announced Meydan joint venture.

HSBC announced they are the first international bank receiving a licence to offer brokerage services for the local UAE stockmarkets.

Dubai Financial Market and Abu Dhabi Securities Market index for 30 September 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
NCTH 4.64 +0.42 +10%
UNION 2.22 +0.16 +7.8%
INVESTB 3.48 +0.24 +7.4%
NBF 4.65 +0.24 +5.4%
ALDAR 7.88 +0.40 +5.3%
worst stock falls
symbol price change
NMDC 5.20 -0.19 -3.5%
AKIC 1.59 -0.05 -3%
OIC 8.50 -0.26 -3%
FH 6.34 -0.17 -2.6%
NBAD 18.50 -0.45 -2.4%
top volume
symbol value (AED) price
ALDAR418,741,0007.88
AIRARABIA306,954,0531.35
SOROUH144,326,6234.61
DEYAAR85,085,6291.84
EMAAR68,550,48610.65

Dubai Financial Market

The DFMGI ended the day almost flat with just a 0.03% rise to 4232.5 from unexciting turnover of AED 635m, half of which came from trading in AIRARABIA shares. They finished the day at 1.35 dhs, up just a fil, or 0.75%.

Not counting the single trade for NCC, Emirates Integrated Telecommunications Company (DU) had the best rise of the day, up 1.9% to 4.76. Other stocks rising included Dubai Investments PJSC (DIC) and Arabtec Holding PJSC (ARTC) up 1.1%, and Tamweel PJSC (TAMWEEL) up 1%. A total of just 8 stocks saw green today.

Aramex PJSC (ARMX) topped the actively traded loser's list with a small 1.2% fall to 2.55. Other stocks on greater than 1m dhs turnover fell less than 1%. Emaar Properties PJSC (EMAAR) dropped 0.5% to 10.65 on thin trading of 70m dhs.

Abu Dhabi Securities Market

The ADSM had a decent 1% rise to 3558 points from robust turnover of AED 883m. Almost half of that from trading in Aldar Properties PJSC (ALDAR) which closed the day almost limit up at 8.22 but average rise was 5.4%. Sorouh Real Estate (SOROUH) had a 3.2% increase to 4.67 and was second in the list of traded value.

UNION had a 7.8% leap to 2.25, Union National Bank (UNB) was up 2.8%, First Gulf Bank (FGB) was busy today and saw a up 2.1% hike, Emirates Telecommunications Company (ETISALAT) moved on by 1.4%, ARKAN up by 1.2% and Abu Dhabi Islamic Bank (ADIB) up by 1% finished off the list of increases worth noting.

There wasn't much in the gloomy corner of the market. Most falls were on low turnover with the exception of Abu Dhabi National Company for Building Materials (BILDCO) down 1.1%, Oasis International Leasing Company PJSC (OILC) down 0.6% and AGTHIA also down 0.6%.

Interesting deal of the day award goes to the rarely traded NBQ, which saw a single massive trade of over 5m shares worth AED 25m at an unchanged price of 4.75.

Posted by sharewadi at 16:37

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