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

Sunday, November 30, 2008

UAE markets 30 Nov 2008

UAE market news & discussions for 30 November 2008

The last day of trading for November 2008 saw gains across the board as the DFM index rose 1.85% to 1965 points with turnover of AED 864m from volume of 516m shares, and the ADX index gained 2.0% to close at 2776 with turnover of AED 402 million from volume of 144m shares. Speculation on a merger between Emirates and Etihad continued with The Sunday Times saying that Abu Dhabi "has demanded control of Emirates." Both Etihad and Emirates bluntly denied the speculation in statements today. Nakheel were reported to have cut 500 jobs, and said "We have the responsibility to adjust our short term business plans to accommodate the current global environment." Arabtec announced an EGM on 23 December 2008 to vote on the 1:1 bonus share proposal which had prompted a sharp increase in share price over the past few trading days.

Dubai Financial Market

Almost 100m shares of Emaar Properties (EMAAR) were traded, worth AED 293m, as the price ended the day up by 4.3% at 2.93. Arabtec (ARTC) was in second place by turnover with AED 93m of trading, and a 2.0% increase to 4.55 although shares were up by more than 10% earlier in the day. Shuaa Capital (SHUAA) was the biggest gainer of the actively traded stocks with an 11.9% rise to 1.79, although turnover was still relatively light. Emirates Integrated Telecommunications (DU), Gulf Navigation (GULFNAV), and Ajman Islamic Bank (AJMANBANK) all rose between 6-7% and apart from thin trading in Dubai Islamic Insurance (AMAN) and Gulf Finance House (GFH), the remaining gainers rose less than 6%. There were only 7 losers, including Emarat Takaful Insurance (TAKAFUL-EM) down by 7%, Mashreq Bank (MASQ) down by 2.2%, and Emirates NBD (ENBD) down by 1.35%.

Abu Dhabi Securities Exchange

Aldar Properties (ALDAR) dominated turnover as usual, with a 6.2% rise to 5.42 from AED 144m of turnover. Sorouh Real Estate (SOROUH) was also busy and rose 6.9% to 3.40. Abu Dhabi Commercial Bank (ADCB) was the biggest gainer on active trading, up by 9% to 2.57. Four stocks saw limit up trading, including Aabar Energy (AABAR) which closed at 1.94. Ras Al Khaimah Cement (RAKCC) was up 7%, Waha Capital (OILC) 6.6%, and the remaining actively traded gainers rose less than 6%. Emirates Telecom (ETISALAT) was up only 0.8% to 12.05, and National Bank of Abu Dhabi (NBAD) up 1.4% to 11.55. First Gulf Bank (FGB) rose 4.6% to 9.15 with insider buying of over 800k shares. There were only 5 losers, none on any volume of significance.

Dubai Financial Market and Abu Dhabi Securities Exchange index for 30 November 2008

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
Be realistic
sharewadi Sun 30 Nov 2008 15:28
ARTC has bounced
stylinexpat Sun 30 Nov 2008 14:51
Emirates Etihad merger
sharewadi Sun 30 Nov 2008 14:11
Abu Dhabi buys Dubai
sharewadi Sun 30 Nov 2008 13:55
Arabtec capital increase
sharewadi Sun 30 Nov 2008 12:09
Dana and Aabar foreign buying
Bimcnorth Sat 29 Nov 2008 23:57
DFM Dh72m foreign selling last week
Bimcnorth Sat 29 Nov 2008 23:50
ADX or DFM ?
investor Sat 29 Nov 2008 21:17
Pump and dump rally due in DFM
lala Sat 29 Nov 2008 17:52
Have we reached the bottom Yet !
investor Sat 29 Nov 2008 09:10
AMLAK & TAMWEEL and other realities
Foreigner Sat 29 Nov 2008 02:38
Barclays PLC..Quo vadis?
Bimcnorth Sat 29 Nov 2008 00:46
Oil Prices
Bimcnorth Fri 28 Nov 2008 23:45
Jaeera Airways Dubai listing
sharewadi Fri 28 Nov 2008 16:11
UAE Market may rebound 20% or more in Dec 200
stylinexpat Fri 28 Nov 2008 10:48
Nasdaq Dubai new listings
Fran Fri 28 Nov 2008 09:32
Noor Islamic Bank closed?
Fran Fri 28 Nov 2008 09:19
best stock rises
symbol price change
GFH 12.05 +1.55 +14.8%
SHUAA 1.79 +0.19 +11.9%
SCIDC 2.53 +0.23 +10%
RAKWCT 1.05 +0.09 +9.4%
ADCB 2.67 +0.22 +9%
worst stock falls
symbol price change
GLOBAL 8.91 -0.99 -10%
ADNIC 7.23 -0.80 -10%
MAZAYA 8.27 -0.91 -9.9%
FH 7.42 -0.81 -9.8%
TAKAFUL-EM 1.19 -0.09 -7%
top volume
symbol value (AED) price
EMAAR293,192,8152.93
ALDAR144,026,6605.49
ARTC92,976,7464.55
DFM85,407,7771.31
AIRARABIA82,682,6730.98

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