UAE market news & discussions for 07 January 2009The DFM saw a 1.6% rise to 1771 points today with turnover of AED 401m from 246m shares. The ADX went the other way, falling 0.56% to 2541 points with turnover of AED 227m from 88m shares. On the Nasdaq Dubai as of 14:30 UAE time, DP World is down 2.6% to $0.37, Depa and Damas are untraded, and Citigold is unchanged at $0.24 from just one trade. Asian stocks rose today, European stocks are down so far, and US stock futures are down.
Dubai Financial MarketEmaar Properties (EMAAR) was the only stock trading more than AED 100m worth in Dubai today, and gained 3.26 to 2.61. Arabtec (ARTC) was second in the list by turnover and closed 7.3% down at 2.17, a last minute rally lifting the share price from 10% limit down. Dubai Financial Market (DFM) shares had a good day with a 5.2% gain to 1.42, Emirates NBD (ENBD) was up 4.1%, Union Properties (UPP) 3.8%, Islamic Arab Insurance (IAIC) 3.6%, Ajman Islamic Bank (AJMANBANK) 3.2%, and the remaining gainers up less than 3% or thin volumes. Apart from Arabtec, only Gulf Navigation (GULFNAV) down 1.5% and Dubai Investment Company (DIC) down 0.9% were in the losers list on turnover of more than AED 1m. The other 4 losers fell on light trading. Abu Dhabi Securities ExchangeIn Abu Dhabi, Emirates Telecom (ETISALAT) topped the turnover list with AED 85m worth of trading and a 0.47% rise to 10.65. Aldar Properties (ALDAR) up 0.46%, and Sorouh Real Estate (SOROUH) up 6.8% overall were the next highest in the list by traded value. Sorouh's closing price of 4.03 was 10% limit up with no sellers in the queue. There were another 5 stocks at limit up prices by the end of the session but apart from Sorouh, only Ras Al Khaimah Cement (RAKCC) saw turnover of more than AED 1m and closed at 1.04. There were three more gainers on active trading, Abu Dhabi National Energy (TAQA) up 3.5%, Union National Bank (UNB) up 2.85%, and Waha Capital (OILC) up 1.7%. Sharjah Islamic Bank (NBS) was the worst of the losers on traded volume of more than AED 1m, falling 8.6% to 0.85. Agthia Group (AGTHIA) fell 5.1%, Bank of Sharjah (BOS) 4.5%, Aabar Energy (AABAR) 4.1%, Ras Al Khaimah Properties (RAKPROP) 3.6%, National Bank of Abu Dhabi (NBAD) 3.4%, and the remainder by less than 3% or on thin trading. |
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