UAE market news & discussions for 11 November 2008Traders on UAE markets looked into the abyss today liked what they saw and jumped. On the DFM and ADX only 3 stocks managed to post a gain leaving two spots to fill in the gainers box below. Both market indicies fell from the open and did not look back for the whole trading session. The DFM index closed 7.29% down at 2,343 and the ADX closed down 4.87% at 2,975. The value of shares traded was approx 500 million dirhams on the DFM and 362 million on the ADX.
On the DFM most if not all of the major stocks finished limit down all reaching multi year lows. Al SALAM Bank and AMAN insurance were the only gainers.
On the ADX, shares in all sectors were down with most falling between 5 and 10%. The one bright spot was ARKAN closing 8.35% up at 4.93 dirhams.
DIFX
DEPA $0.54 down 10% and DPW $0.30 down 6% were the only stocks to trade.
Results
GCEM 08Q3 profit Dh2.3m -97% pcp. result affected by investment losses. Dubai Financial MarketOn the Dubai Financial Market 2 shares advanced 23 declined.
No sector was immune as traders sold most shares at any price in a rush to the exits. Abu Dhabi Securities MarketOn the ADX, 1 stock advanced and 35 declined.
Arkan Building Materials (ARKAN) posts a solid gain as the rest of the board falls. | |
UAE stock market news and discussions at Dubai Share Talk ...
| | Latest posts and topics (click timestamp for last post) | Last Post By | Last Post Date |
| |
| best stock rises | | symbol | price | change | | ARKAN | 4.93 | +0.38 | +8.4% | | SALAM_BAH | 1.17 | +0.03 | +2.6% | | AMAN | 1.82 | +0.03 | +1.7% | | | worst stock falls | | symbol | price | change | | DFM | 1.80 | -0.20 | -10% | | CBI | 1.89 | -0.21 | -10% | | GGICO | 6.20 | -0.68 | -9.9% | | EMAAR | 3.74 | -0.41 | -9.9% | | DRIVE | 4.38 | -0.48 | -9.9% | | | top volume | | symbol | value (AED) | price | | EMAAR | 231,889,367 | 3.74 | | ALDAR | 123,127,303 | 4.44 | | DFM | 47,838,030 | 1.80 | | AIRARABIA | 47,567,528 | 1.00 | | SOROUH | 46,053,574 | 2.96 | |
