UAE market news & discussions for 19 May 2009UAE markets continued in promising fashion with lots more green arrows on increased trading volumes. The ADX rose 0.91% to 2616 points with turnover at AED 562m from 369m shares, and the DFM rose 1.2% to 1666 points with turnover of AED 715m from 437m shares. On the Nasdaq Dubai at 14:30 UAE time, DP World is up 5.25%, Boulder Steel +17.65%, a rare trade for China Security & Surveillance (CSR) +1.8%, Union Properties derivatives +4.2%, RAK Properties derivatives +3.4%, and GOLD the only loser, down 1.0%.
Dubai Financial MarketArabtec (ARTC) +3.15% from AED 313m turnover, and Emaar Properties (EMAAR) +2.7% from AED 126m turnover were the only two stocks in Dubai trading more than AED 100m worth of shares. Top gainers were Dubai National Insurance & Reinsurance (DNIR) and Jeema Mineral Water (JEEMA), both 5% limit up on minimal activity. Al Salam Bank Sudan (ALSALAMSUDAN) rose 4.4%, National General Cooling (TABREED) 2.8%, Islamic Arab Insurance (IAIC) 2.4%, and Air Arabia (AIRARABIA) 2.1%. The remaining gainers rose less than 2%. There were only 4 losers: Dubai Islamic Insurance (AMAN) -2.65%, Al Salam Bank (SALAM_BAH) -2.5%, Ajman Islamic Bank (AJMANBANK) -0.94%, and Emarat Takaful Insurance (TAKAFUL-EM) -0.75%. Abu Dhabi Securities ExchangeIn Abu Dhabi, Aldar Properties (ALDAR) +3.7% from AED 160m turnover, and Dana Gas (DANA) +6.4% from AED 117m turnover were the only two stocks with more than AED 100m worth of trading volume. Top gainers of the more actively traded stocks were Methaq Islamic Insurance (METHAQ) and Agthia Group (AGTHIA), both closing 10% limit up. Ras Al Khaimah Poultry (RAPCO) and International Fish Farming (ASMAK) also closed 10% limit up but on single small trades each. National Bank Of Ras Al Khaimah (RAKBANK) saw a bit of activity and rose 7.0%, Ras Al Khaimah Cement (RAKCC) was up 5% on greater than usual trading, Ras Al Khaimah Properties (RAKPROP) rose 3.3%, First Gulf Bank (FGB) +3.0% and the remaining gainers were up less than 3% or on thin trading. Emirates Telecom (ETISALAT) rose just 0.5% to 10.00. In the losers' list, Green Crescent Insurance (GCIC) was the worst of the more actively traded stocks with a 2.3% fall, Umm Al Quwain Cement (QCEM) fell 2.2%, National Bank of Abu Dhabi (NBAD) 1.2%, and the other 13 stocks in the red fell on less than AED 1m of trading. |
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