UAE market news & discussions for 14 April 2009Abu Dhabi rose 0.85% to 2631 points from increased turnover of AED 446m. Dubai was almost the same with a 0.81% increase to 1668 points and turnover of AED 839m. On the Nasdaq Dubai as of 15:00 UAE time, DP World is down 4%, or $0.01, to $0.24, Depa is unchanged, and GOLD is up 1.1% from a single trade. Dubai Financial Market Arabtec (ARTC) was the most heavily traded stock by value with AED 173m worth of deals and a 0.5% fall to 2.09. Deyaar Development (DEYAAR) was the only other stock with more than AED 100m worth of trading, the top stock by volume with 160m shares, and top gainer with a 12.5% rise to 0.72. Other stocks in the green today included Dubai Islamic Insurance (AMAN) up 5.9%, Dubai Investment Company (DIC) up 4.7%, Gulf Navigation (GULFNAV) up 4.6%, Emirates Integrated Telecommunications (DU) up 4.3%, and Arab International Logistics (ARMX) up 3.6%. Other gainers rose less than 3% or on low turnover. Emaar Properties (EMAAR) could only manage a rise of 0.41% to 2.45. In the loser's list, Al Salam Bank Sudan (ALSALAMSUDAN) was the worst with a 6.7% fall to 2.65, Dubai Financial Market (DFM) was down 2.2% as shares went ex-dividend, Shuaa Capital (SHUAA) fell 1.8% and the remainder were down less than 1% or on low volumes. Abu Dhabi Securities ExchangeThe property stocks dominated trading in Abu Dhabi with three of the top spots on the traded value held by Aldar Properties (ALDAR) (+5.3%), Sorouh Real Estate (SOROUH) (+5.5%), and Ras Al Khaimah Properties (RAKPROP) (+1.75%). Dana Gas (DANA) was also busy but share price was unchanged at 0.93. Aldar and Sorouh were also the top 2 actively traded gainers, although Ras Al Khaimah Ceramics (RAKCEC) put on a good show with 10% limit up prices at close from low volumes. First Gulf Bank (FGB) was up 5.3%, Sharjah Islamic Bank (NBS) 4.3%, Aabar Energy (AABAR) 3.7% and the remaining gainers were up less than 3% or on low volumes. Emirates Telecom (ETISALAT) saw a 0.49% rise to 10.35 and National Bank of Abu Dhabi (NBAD) was unchanged at 10.35. Of the 10 losers, only Ras Al Khaimah Cement (RAKCC) (-1.5%) and Abu Dhabi Islamic Bank (ADIB) (-0.96%) saw turnover of more than AED 1m. | |