UAE market news & discussions for 08 April 2009Abu Dhabi and Dubai continued their slide again today with both markets losing about half a percent each. Turnover was just over AED 300m in Dubai, and about AED 225m in Abu Dhabi. On the Nasdaq Dubai, only DP World and Depa saw any trading, both unchanged from yesterday at $0.26 and $0.38 respectively. Dubai Financial MarketAjman Islamic Bank (AJMANBANK) stood out in Dubai with a solid 4.7% rise and AED 90m of turnover, twice as much as number two in the traded value list, Emaar Properties (EMAAR), with a 2.85% fall to 2.39. Al Salam Bank Sudan (ALSALAMSUDAN) was 15% limit up but on thin trading, Dar Takaful Insurance (DARTAKAFUL) rose 5.8%, Emarat Takaful Insurance (TAKAFUL-EM) 2.6%, both on modest turnover. Emirates NBD (ENBD) was up 1.8%, Gulf Navigation (GULFNAV) 1.6%, Dubai Financial Market (DFM) up 0.74%. Most other actively traded stocks were unchanged or down, including National General Cooling (TABREED) with a 4.3% fall, and Arabtec (ARTC) down 2.2%. Abu Dhabi Securities ExchangeIn Abu Dhabi, Ras Al Khaimah Properties (RAKPROP) was the most active stock with AED 56m of turnover and a 6% fall to 0.63 making it the worst loser of the more active stocks. Dana Gas (DANA) up 2.7% and Aldar Properties (ALDAR) down 1.8% both saw turnover of just over AED 40m each. Umm Al Quwain Cement (QCEM) closed 10% limit up at 0.96 on greater than usual activity, National Bank of Umm Al Quwain (NBQ) was up 6.1% also with volumes higher than usual, Green Crescent Insurance (GCIC) was up 1.8%, First Gulf Bank (FGB) rose 1.3%, Sharjah Islamic Bank (NBS) 1.2% and the remaining gainers were up less than 1% or on volume of less than AED 1m worth. Emirates Telecom (ETISALAT) was unchanged at 10.15. Sorouh Real Estate (SOROUH) joined the falling property stocks with a 4.8% decrease, Waha Capital (OILC) was down 3.6%, and other losers fell less than 2% or on low volumes. | |
