UAE market news & discussions for 27 August 2008What a difference a day makes. Despite being down early the DFM index turned around at lunchtime and ended up over two percent at 4,802. Lets enjoy it before anyone says dead cat bounce. |
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Dubai Financial Market
The DFM index closed at 4,802 a rise of 2.04% from the previous close. 282 million shares were traded worth 1 billion dirhams. Twenty shares advanced and four declined.
Trading was lead by Emaar Properties (EMAAR) up 5.66% to 9.51 dirhams and AJMANBANK up 4.84% to 3.03 dirhams.
Other shares to gain included: Amlak Finance (AMLAK) 3.70 (4.22%), ARAMEX 2.00 (4.71%), DFM 3.80 (3.26%), Tamweel (TAMWEEL) 5.89 (5.17%) and Union Properties (UPP) 3.93 (3.42%).
DIB falling 0.27% to 7.19 dirhams was the only share to close lower on significant volume.
Abu Dhabi Securities Market
The ADX index closed at 4,359 a fall of 0.13% from the previous close. 150 million shares were traded worth 728 million dirhams. Twenty one shares advanced and sixteen declined.
Dana Gas (DANA) was the top traded share falling 1.83% to 1.61 dirhams on volume of 25 million shares.
Other shares to fall included: First Gulf Bank (FGB) 22.10 (0.45%), Aldar Properties (ALDAR) 9.61 (0.21%), Abu Dhabi Commercial Bank (ADCB) 4.25 (1.85%), Sorouh Real Estate (SOROUH) 7.10 (0.28%) and Etisalat (ETISALAT) 17.65 (1.12%).
Shares to rise included: Commercial Bank International (CBI) 3.63 (7.72%), METHAQ 8.41 (0.96%), RAK Cement (RAKCC) 3.04 (0.66%) and AGTHIA 2.23 (3.72%).
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