UAE market news & discussions for 05 April 2009 Following Thursdays positive performance in the UAE, and a big rise on Saudi Arabia's Tadawul yesterday, both markets started the week well today. Abu Dhabi gained 1.8% to 2542 points with turnover at a reasonable AED 327m. Dubai up 2.6% to 1625 points with turnover at a solid AED 1.16 billion. On the Nasdaq Dubai at 15:00 UAE time, DP World is the only stock traded so far, up 3.85% to $0.27. Dubai Financial MarketIn Dubai, Dubai Financial Market (DFM) shares topped the traded value list with AED 274m worth of deals and a solid 8.4% rise to 1.42. Arabtec (ARTC), up 9.8%, and Emaar Properties (EMAAR), up 6.8%, were also heavily traded with about AED 200m worth of turnover in each. National General Cooling (TABREED) led the gainers with 15% limit up trading at 0.67 by the end of the session. Ektitab Holding (EKTTITAB) and Al Salam Bank Sudan (ALSALAMSUDAN) also traded 15% limit up but on low volumes. Dar Takaful Insurance (DARTAKAFUL) rose 8.6%, Shuaa Capital (SHUAA) 7.6% but both on low volumes also, Union Properties (UPP) was up 6.8%, and the remaining gainers were up less than 4%. Of the 5 losers, only Deyaar Development (DEYAAR), down 1.75%, saw turnover of more than AED 1m, and Emirates NBD (ENBD) fell just 0.67%. Abu Dhabi Securities ExchangeIn Abu Dhabi, Sorouh Real Estate (SOROUH) dominated the floor with over AED 100m of turnover and a 6.25% rise to 2.57. Emirates Telecom (ETISALAT) was a distant second on traded value with only AED 28m worth, and a slight fall of 0.48%. Ras Al Khaimah Properties (RAKPROP), Aldar Properties (ALDAR), Union National Bank (UNB), and Dana Gas (DANA) all stood out in the gainers list with closing prices at 10% limit up. Other big gainers included Arkan Building Materials (ARKAN) up 7.7%, First Gulf Bank (FGB) up 7.6%, and National Bank of Abu Dhabi (NBAD) up 7.35%. Most other stocks rose less than 5% or on thin volumes. Four out of the nine losers saw 10% limit down trading but none on any significant levels of turnover. Etisalat was the only loser on more than AED 1m worth of trading. | |
