UAE market news & discussions for 15 April 2009A good day for both markets with lots of green for the actively traded stocks and 15% limit up trading for a couple of the Takaful stocks in Dubai, but overall index increases were held back by a small gain in Emaar and a small fall in Etisalat, the two heavyweights in their respective markets. Abu Dhabi rose 0.58% to 2646 points on turnover of AED 351m. Dubai was better with a 1.2% rise to 1688 points from turnover of AED 848m. On the Nasdaq Dubai as of 15:30 UAE time, DP World is unchanged at $0.25, and several derivatives have had one or two trades each - Union Properties, RAK Properties, Sorouh, ADCB, and NBAD - all rising 0.7%-2.3% except for for ADCB which fell 1.1%. Dubai Financial Market Four stocks were 15% limit up in Dubai, Ektitab Holding (EKTTITAB) on low volumes, Al Salam Bank (SALAM_BAH) and Emarat Takaful Insurance (TAKAFUL-EM) with no sellers in the queue by close, and Dar Takaful Insurance (DARTAKAFUL). Emirates Integrated Telecommunications (DU) was also limit up but only 5%. Other gainers included Dubai Islamic Insurance (AMAN) up 11.2%, Union Properties (UPP) 5.8%, Arabtec (ARTC) up 5.3%. Arabtec was the most heavily traded stock with over AED 200m worth, and Deyaar was number two with just over AED 100m worth but share price was unchanged at 0.72. Almost all other stocks rose less than 5% or were unchanged. There were only two losers, the rarely traded International Investment Group (IIG) falling 7.4% from one tiny trade, and Dubai Investment Company (DIC) down 0.75%. Emaar Properties (EMAAR) rose just 1.2% to 2.48. Abu Dhabi Securities ExchangeThe three Abu Dhabi listed property companies took the top spots on the traded value table. Aldar Properties (ALDAR) rose 1%, Sorouh Real Estate (SOROUH) 2.2%, and Ras Al Khaimah Properties (RAKPROP) 10% limit up at 0.63 by the close of trading with no sellers in the queue. Ras Al Khaimah Cement (RAKCC) was also relatively busy but only rose 1.5%. First Gulf Bank (FGB) had a solid 5% gain, Arkan Building Materials (ARKAN) was up 2.2%, Sharjah Islamic Bank (NBS) 2.0% and the remaining gainers were up less than 2% or on low volumes. There were ten losers, none of the more actively traded ones falling more than 2%. Emirates Telecom (ETISALAT) was one of them with a 0.49% drop to 10.25. | |
