DFM & ADSM reports

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Monday, October 01, 2007

UAE markets 01 Oct 2007

UAE market news & discussions for 01 October 2007

The ADSM index made a 1.5% gain on the back of impressive gains for National Bank of Abu Dhabi who said they were going to delay their upcoming AED 6.4 billion bond issue, and in the property sector.

If Aldar and Sorouh were hot yesterday, they were scorching today, with record volumes for Aldar and almost a new record for Sorouh (25 February 2007 saw greater volume). Both stocks saw day highs almost limit up on yesterday's close.

Taqa shares saw a strong increase after they announced the sale of a stake in their CMS Energy unit. Aabar Petroleum was also heavily traded on a solid rise.

The DFM index in contrast, was subdued with trading volumes eclipsed by the activity in Abu Dhabi. Union Properties announced the launch of Phase II of their MotorCity development.

Eleven UAE brokers were given a 1 month suspension by ESCA for not fulfilling the new capital requirements, the suspension will be made permanent at the end of the month if they have still not complied.

Dubai Financial Market and Abu Dhabi Securities Market index for 01 October 2007

More UAE stock market news and discussions...

best stock rises
symbol price change
NBQ 5.11 +0.36 +7.6%
SOROUH 4.86 +0.25 +5.4%
ALDAR 8.26 +0.38 +4.8%
AABAR 3.84 +0.17 +4.6%
TAQA 2.91 +0.12 +4.3%
worst stock falls
symbol price change
ASMAK 5.00 -0.50 -9.1%
FBICO 1.69 -0.16 -8.6%
NCTH 4.24 -0.40 -8.6%
UNION 2.04 -0.18 -8.1%
QCEM 2.70 -0.09 -3.2%
top volume
symbol value (AED) price
ALDAR481,416,0868.26
SOROUH412,673,3744.86
EMAAR180,672,89010.60
AABAR132,253,7323.84
TAQA107,612,3692.91

Dubai Financial Market

A 0.3% rise in the DFMGI was on unimpressive turnover of AED 567m, with Emaar Properties PJSC (EMAAR) at the top of the traded value table but a disappointing performance, falling by 0.5% to 10.60 from 181m dhs of turnover. It was one of only 4 stocks to fall on the DFM today.

DIB was the stock of the day with a healthy 2.3% rise to 9.62 from a sturdy AED 88m dhs of trading. AMAN not far behind with a 2.2% increase and then Tamweel PJSC (TAMWEEL), up by 1.5% on slim trading. Amlak Finance Company (AMLAK), Union Properties PJSC (UPP), Islamic Arab Insurance Company PSC (IAIC), and DEYAAR all rose less than 1%, and another 9 stocks closed the session unchanged from yesterday.

Emirates Integrated Telecommunications Company (DU) was at the top of the short list of 4 losers, but with just a 1.3% fall to 4.70. Dubai Investments PJSC (DIC) and Arabtec Holding PJSC (ARTC) fell less than 0.5% each.

Abu Dhabi Securities Market

As noted above, ADSM was in fine form with a 1.5% rise to 3612 points from a very hefty AED 1.5 billion of turnover - almost 3 times the level seen in Dubai. Half of that from trading in Aldar Properties PJSC (ALDAR) and Sorouh Real Estate (SOROUH), up 4.8% to 8.27 and 6.7% to 4.982 respectively.

Aabar Petroleum Investments Company PJSC (AABAR) and Abu Dhabi National Energy Company (TAQA) were also riding the bull, with turnover greater than AED 100m for both stocks and rises of 4.6% to 3.88 and 5.0% to 2.93 respectively.

Other gains for National Bank of Abu Dhabi (NBAD) up 5.4% to 19.50, First Gulf Bank (FGB) up 3.1% to 15.05, Bank Of Sharjah (BOS) up 3% to 3.05, Ras Al Khaimah Properties PJSC (RAKPROP) up 2.5%, NBS up 2.4%, AGTHIA up 2.2% and another ten stocks up 0-2%. Emirates Telecommunications Company (ETISALAT) had a small rise of 0.6% to 18.35. Oasis International Leasing Company PJSC (OILC) share price was unchanged.

Out of 17 losers, only 4 saw turnover greater than 1m dhs. Invest Bank (INVESTB) lost 2.3% to close at 3.40, Ras Al Khaimah Cement Company (RAKCC) fell 0.9% on moderately heavy trading, while Abu Dhabi National Company for Building Materials (BILDCO) and Gulf Cement Company (GCEM) fell by less than 0.5%.

Posted by sharewadi at 14:16

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