UAE daily stock market reports for Abu Dhabi Securities Market (ADSM) and Dubai Financial Market (DFM) - RSS feed

Monday, September 22, 2008

UAE markets 22 Sep 2008

UAE market news & discussions for 22 September 2008

The DFM gave up some of yesterday's big gains with a 2.5% fall to 4201 from turnover of AED 1.8 billion, however, the ADX continued upwards by 1.65% to 4014 from increased turnover of AED 1.5 billion. On the DIFX, DP World is up 6% to $0.71 while Damas and KHI are down 1% and 2% from just one trade each so far today. The UAE Central Bank set up a Dh50 billion lending facility, and a report from CB Richard Ellis Group said sovereign wealth funds may increase their invest in commercial property to $725 billion (Dh2.6 trillion) ... by 2015. And fashion victims will be happy to hear Bloomingdale's of New York will open a shop in Dubai ... in 2010.

Dubai Financial Market and Abu Dhabi Securities Market index for 22 September 2008

More UAE stock market news and discussions...

best stock rises
symbol price change
SICO 5.83 +0.53 +10%
ADNIC 9.64 +0.86 +9.8%
ALDAR 8.40 +0.63 +8.1%
SOROUH 6.58 +0.47 +7.7%
AKIC 2.15 +0.15 +7.5%
worst stock falls
symbol price change
FH 12.00 -1.25 -9.4%
DIC 3.16 -0.21 -6.2%
UPP 3.16 -0.21 -6.2%
SALAM_BAH 2.00 -0.13 -6.1%
DU 4.95 -0.29 -5.5%
top volume
symbol value (AED) price
EMAAR595,072,3997.81
ALDAR560,437,9188.40
SOROUH382,313,7916.58
TAKAFUL-EM 198,118,4984.37
AJMANBANK157,221,6992.77

Dubai Financial Market

Emaar Properties (EMAAR) was the most heavily traded stock as usual, with almost 600 million of turnover, and fell 3.0% to 7.81. TAKAFUL-EM had AED 200m of turnover and stood out with a 4.3% rise to 4.37, the only gainer of note in Dubai. Four other stocks traded more than AED 100m worth - AJMANBANK down 4.2%, DFM down 2.5%, Union Properties (UPP) down 6.2% and the worst of the losers along with Dubai Investments (DIC), and Arabtec (ARTC) down 2.6%. Du Telecom (DU) was down 5.5% and the rest of the actively traded stocks fell between 2.5% and 5%.

Abu Dhabi Securities Market

Aldar Properties (ALDAR) and Sorouh Real Estate (SOROUH) dominated trading with almost AED 1 billion of turnover between them, and took the top spots on the gainers list (except for a couple of thinly traded stocks) with 8.1% and 7.7% rises to 8.18 and 6.16 respectively. Gulf Cement (GCEM) was busier than usual with a 4.1% increase, First Gulf Bank (FGB) and Abu Dhabi Commercial Bank (ADCB) rose 5.3% and 3.5% respectively, Abu Dhabi National Energy (TAQA) was up 3.4% and the remaining gainers were up less than 3% or on thin trading. Etisalat (ETISALAT) rose 1.2% to 17.30. National Bank of Abu Dhabi (NBAD) fell 1.6% to 15.50, RAK Cement (RAKCC) 1.5% on greater than usual trading, but otherwise there were few stocks that stood out in the list of 14 losers.

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