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UAE markets headed in opposite directions today with the Dubai Financial Market (DFM) closing up after being down for most of the trading session and the ADX down. Volumes traded remain modest.
The Dubai Financial Market (DFM) index closed 0.69% higher at 1488, with 272 million shares traded worth Dh290 million.
Air Arabia (AIRARABIA) lead the gainers closing 3.26% up after good results. Also up were Arabtec (ARTC) up 2.32%, Dubai Islamic Bank (DIB) up 0.59%, Emaar Properties (EMAAR) up 1.63% and National General Cooling (TABREED) up 2.08%. Shares closing down were lead by Shuaa Capital (SHUAA) down 6.86% and Dubai Financial Market (DFM) down 0.94%.
The ADX index closed 1.25% lower at 2,208 with 93 million shares traded worth Dh145 million.
The Banking sector was mixed, gainers were lead by Commercial Bank International (CBI) up 7.97% and Finance House (FH) up 3.09%. However, First Gulf Bank (FGB) retreated 3.09% and Abu Dhabi Islamic Bank (ADIB) was down 5.42%.
Realestate had a poor day with Aldar Properties (ALDAR) down 5.91%, Ras Al Khaimah Properties (RAKPROP) down 2.22% and Sorouh Real Estate (SOROUH) down 4.33%.
Energy was mixed, Aabar Energy (AABAR) gained 0.64% while Dana Gas (DANA) was down 1.72% as was Abu Dhabi National Energy (TAQA) down 4.27%.
In Construction Arkan Building Materials (ARKAN) was down 8.56% and Ras Al Khaimah Cement (RAKCC) closed 0.78% lower.
Emirates Telecom (ETISALAT) lost a further 0.60%.

Dubai Financial Market and Abu Dhabi Securities Exchange index for 16 February 2009

UAE stock market news and discussions at Dubai Share Talk ...

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IPIC buys Aabar	sharewadi	Mon 16 Feb 2009 11:37
AABAR convertible bond	sharewadi	Mon 16 Feb 2009 11:33
Aabar IPIC convertible bond	sharewadi	Mon 16 Feb 2009 11:30
TABREED 2008Q4 profit Dh24m +3%	Drake	Mon 16 Feb 2009 10:43
Air Arabia 2008Q4 profit AED136m +45%	sharewadi	Mon 16 Feb 2009 04:58

Monday, February 16, 2009