UAE market news & discussions for 26 April 2009UAE stocks fell today with a 0.9% drop to 1638 points in Dubai from turnover of AED 351m, and a 0.87% fall to 2543 points in Abu Dhabi from turnover of AED 256m. On the Nasdaq Dubai, DP World and Depa were unchanged from limited trading, and there was a single trade in Boulder Steel with shares falling 50% (!), or $0.02, to $0.02. Dubai Financial MarketThere were no stocks trading more than AED 100m in Dubai today. Arabtec (ARTC), falling 1.9% to 2.09, was the most heavily traded by turnover with AED 76m worth. Deyaar Development (DEYAAR) (unchanged) and Emaar Properties (EMAAR) (-1.6%) both traded just under AED 60m worth each. There were only two gainers, Shuaa Capital (SHUAA) and Al Salam Bank (SALAM_BAH), both less than 1% and on turnover of less than AED 1m. Stocks unchanged, apart from Deyaar, were Union Properties (UPP), Emarat Takaful Insurance (TAKAFUL-EM), Dubai Investment Company (DIC), Arab International Logistics (ARMX), and Gulf General Investment (GGICO). The worst loser was National Cement Company (NCC), 5% limit down but on turnover of less than AED 100k. Dubai Islamic Insurance (AMAN) was the worst of the more active stocks with a 3.6% fall, followed by National General Cooling (TABREED) (-2.9%), Ajman Islamic Bank (AJMANBANK) (-2.6%), and Drake & Scull (DSI) (-2.5%) with the rest falling less than 2% or on low volumes. Abu Dhabi Securities ExchangeIn Abu Dhabi, Aldar Properties (ALDAR), with AED 108m of turnover, was the only stock to trade more than AED 100m worth as it fell 1.9% to 3.53. Biggest fall of the more active stocks was Waha Capital (OILC) closing 10% limit down at 0.72 with no buyers in the queue after releasing 2009 Q1 results. Union National Bank (UNB) was down 3.9%, Arkan Building Materials (ARKAN) 3.4%, and First Gulf Bank (FGB) fell 3.2%, while most other actively traded stocks fell between 0% and 2%. Emirates Telecom (ETISALAT) decreased by 0.40% and National Bank of Abu Dhabi (NBAD) by just 0.21%. Dana Gas (DANA) and Agthia Group (AGTHIA) were unchanged. There were only 6 gainers, and only 2 of them on significant trading levels - Aabar Energy (AABAR) up 2.0% and Sorouh Real Estate (SOROUH) up just 0.37%. | |