UAE market news & discussions for 23 April 2009The UAE markets ended the week in the red, however, for the half full glass investors, share price increases this week were on heavier trading but the falls, including today, were on lighter trading. Abu Dhabi fell 0.81% to 2566 points from just AED 147m of turnover, and Dubai fell 1.5% to 1653 points from AED 358m of traded value. On the Nasdaq Dubai as of 14:30 UAE time, DP World is down 3.85% to $0.25, and Depa is up 5.3% to $0.40 from just one trade. Dubai Financial MarketArabtec (ARTC) was the most heavily traded stock by value in Dubai today, with AED 80m of turnover, and a 1.4% fall to 2.13. Emaar Properties (EMAAR) saw similar trading levels and fell 3.45% to 2.52. Emarat Takaful Insurance (TAKAFUL-EM) was the worst loser on turnover of more than AED 1m, with a 4.3% fall to 1.35. Ajman Islamic Bank (AJMANBANK) fell 3.4%, Dubai Financial Market (DFM) 2.9%, Emirates Integrated Telecommunications (DU) 2.6%, and the remainder by less than 2.5% or on thin trading. Of the 3 gainers, Al Salam Bank Sudan (ALSALAMSUDAN) was the best with a 4.1% increase to 2.30, Arab International Logistics (ARMX) and Commercial Bank of Dubai (CBD) rose about 1% each. Six stocks closed unchanged - Air Arabia (AIRARABIA), Deyaar Development (DEYAAR), Dubai Islamic Insurance (AMAN), Union Properties (UPP), National General Cooling (TABREED), and Gulf Navigation (GULFNAV). Abu Dhabi Securities ExchangeVolumes were thin in Abu Dhabi today with only 4 stocks trading more than AED 10m and none of them more than AED 30m worth. They were Aldar Properties (ALDAR) (-1.6%), Ras Al Khaimah Properties (RAKPROP) the worst of the more active losers today (-3.0%), Abu Dhabi National Energy (TAQA) (-2.5%), and Sorouh Real Estate (SOROUH) (-1.5%). Other losers included First Gulf Bank (FGB) (-3.6%) on thin trading, Emirates Telecom (ETISALAT) (-0.5%), and the remainder falling less than 2% or on turnover of less than AED 1m. Four stocks were unchanged - Dana Gas (DANA), MBQ, Green Crescent Insurance (GCIC), and Union National Bank (UNB). There were only 7 gainers, with only Arkan Building Materials (ARKAN) (+1.1%) and Sudan Telecom (SUDATEL) (+0.19%) trading more than AED 1m worth. | |