UAE market news & discussions for 19 April 2009UAE stocks continue to rally with a 0.57% rise in Abu Dhabi to 2695 points from AED 447 million worth of turnover and a solid 1.9% gain in Dubai to 1745 points from turnover of over AED 1 billion. The Nasdaq Dubai had a quiet day with only Depa and DP World seeing any trading, both unchanged at $0.40 and $0.27 respectively. Both stocks trading very low volumes, although unusually, Depa was the more heavily traded of the two.
Dubai Financial MarketEmaar Properties (EMAAR), up 3.8%, and Arabtec (ARTC), up 4.4%, traded over AED 200m worth of shares and headed the list of stocks by turnover. Dubai Financial Market (DFM), up 3.6%, and Drake & Scull (DSI), up 6.5% and the best of the actively traded gainers, were the only other stocks with more than AED 100m worth of deals today. Other gainers included Dubai Investment Company (DIC) up 5.2%, Union Properties (UPP) up 3.3% and the remainder up less than 3% or on thin trading. The six losers included Arab International Logistics (ARMX), National General Cooling (TABREED), Gulf Navigation (GULFNAV), and Emirates Integrated Telecommunications (DU), all falling between 1% and 2%. Abu Dhabi Securities ExchangeIn Abu Dhabi, Sorouh Real Estate (SOROUH) was the only stock with turnover of more than AED 100m, rising 3.1% to 3.00. The other property stocks traded around AED 90m worth each, with Aldar Properties (ALDAR) rising 4% putting it at the top of the more active gainers list, and Ras Al Khaimah Properties (RAKPROP) up 1.5%. Several stocks had closing prices 10% limit up, including Gulf Medical Projects (GMPC), Invest Bank (INVESTB), Al Khazna Insurance (AKIC), Arkan Building Materials (ARKAN), and Abu Dhabi Aviation (ADAVIATION) but all on turnover of less than AED 2m each. Other gainers included Bank of Sharjah (BOS) up 6.5%, Aabar Energy (AABAR) up 2.4%, Sharjah Cement (SCIDC) up 2.6%, First Gulf Bank (FGB) up 0.8%, and the remainder up less than 2% or on thin trading. Emirates Telecom (ETISALAT) was unchanged at 10.30. The worst of the more active losers was Union National Bank (UNB), falling 3.2%. Other losers included Ras Al Khaimah Cement (RAKCC) and TAQA each down 1.5%, Waha Capital (OILC) down 1.15%, National Bank of Abu Dhabi (NBAD) down 0.47%, and the remainder falling less than 1% or on low turnover. |
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