UAE market news & discussions for 22 April 2009The ADX in Abu Dhabi was up 0.76% to 2587 points with turnover at a relatively low AED 229m, while the DFM in Dubai saw more than twice as much trading with AED 531m worth of deals, and a 0.98% rise to 1678 points. On the Nasdaq Dubai at 15:30 UAE time, DP World is up 4%, Boulder Steel is unchanged on a single trade, Depa is down 13% on a handful of trades, and ADCB derivatives are up 1.9% from one tiny trade. Dubai Financial Market Arabtec (ARTC) (with more insider selling) and Drake & Scull (DSI) were the only two stocks trading more than AED 100m in Dubai today, rising by 0.47% and 3.9% respectively. Shuaa Capital (SHUAA) was the best gainer with a 5.8% rise to 1.09, although turnover was thin at less than AED 1m. Other gainers included Emarat Takaful Insurance (TAKAFUL-EM) up 5.2%, Deyaar Development (DEYAAR) up 4.7%, Ajman Islamic Bank (AJMANBANK) up 4.4%, and Dubai Islamic Bank (DIB) up 3.9%. The remainder were up by less than 3%, including Emaar Properties (EMAAR) up 2.7% to 2.61. Only 6 stocks fell, with Dar Takaful Insurance (DARTAKAFUL) losing 4.8% the worst of them, followed by Al Salam Bank Sudan (ALSALAMSUDAN) down 3.9%, and Emirates NBD (ENBD) and Ektitab Holding (EKTTITAB) both down by 2.8%. Abu Dhabi Securities Exchange As usual, the three property companies were the most heavily traded by value in Abu Dhabi but none saw more than AED 100m worth. Aldar Properties (ALDAR) rose 2.7%, Sorouh Real Estate (SOROUH) 2.6%, and Ras Al Khaimah Properties (RAKPROP) up 3.1% putting at the top of the list of actively traded gainers. Other stocks in the green on active trading included Aabar Energy (AABAR) up 3.0%, Abu Dhabi National Energy (TAQA) and Waha Capital (OILC) up 2.5%, Union National Bank (UNB) up 2.0%, and the rest up less than 2% or on turnover of less than AED 1m. Emirates Telecom (ETISALAT) was up 0.7% to 10.10. Abu Dhabi National Building Materials (BILDCO), trading more than usual, and Foodco Holding (FOODCO) both fell 10% limit down by close. Sharjah Islamic Bank (NBS) was down 3% and the other 8 losers fell less than 2% or on low volumes. National Bank of Abu Dhabi (NBAD) was down 0.42% to 9.60. | |