UAE market news & discussions for 26 November 2008UAE markets diverged today as the DFM index closed higher and the ADX index tracked lower. The DFM index closed 0.53% higher at 1,872 on volume of 154 million shares traded worth 266 million dirhams. ARTC dominated trading closing limit up again at 3.88 on volume of 24 million shares. EMAAR remained unchanged at 2.56 dirhams on volume of 25 million shares. The ADX index closed 1.65% down at 2,685 on volume of 56 million shares traded worth 206 million dirhams. Losses were widespread including FGB down 8.70%, AABAR down 8.5%, and ETISALAT down 3.5%. NASDAQ DUBAI (1630) DPW down 2.94% and DEPA steady. Dubai Financial MarketOn the Dubai Financial Market 10 stocks advanced and 9 declined. Stocks to gain included: Ajman Islamic Bank (AJMANBANK) up 2.24%, Emirates Integrated Telecommunications (DU) up 1.66%, Dubai Financial Market (DFM) up 1.75%, Gulf Navigation (GULFNAV) up 1.2% and Islamic Arab Insurance (IAIC) up 4.0%. Stocks to decline included: National General Cooling (TABREED) down 2.7%, Dubai Islamic Bank (DIB) down 2.4% and Deyaar Development (DEYAAR) down 1.5%. Abu Dhabi Securities ExchangeOn the ADX 15 stocks advanced and 22 declined. Stocks to gain included: Abu Dhabi Commercial Bank (ADCB) up 3.0%, SIB up 2.7%, Abu Dhabi National Hotels (ADNH) up 5.5% and Arkan Building Materials (ARKAN) up 7.0%. Stocks to decline included: All the energy sector, Aabar Energy (AABAR) down 8.56%, Dana Gas (DANA) down 1.49% and Abu Dhabi National Energy (TAQA) down 2.3%. REALESTATE was also weak with Aldar Properties (ALDAR) down 1.77%, Ras Al Khaimah Properties (RAKPROP) down 3.1% and Sorouh Real Estate (SOROUH) down 1.3%. | |