UAE market news & discussions for 18 June 2009UAE markets took a bit of a dive today but on the bright side, volumes were down. The DFM fell 3.1% to 2014 points from turnover of AED 910m. The ADX fell 2.25% to 2798 points from turnover of AED 386m. On Nasdaq Dubai at 15:00 UAE time, DP World is unchanged at $0.40, Damas is up 3.6% at $0.29, Depa is unchanged at $0.62, and there have been a handful of derivative trades for RAK Properties, Sorouh, Aldar, ADCB, and Shuaa Capital, all in the red except for Shuaa which is up 1.1%.
Dubai Financial MarketAlmost all Dubai listed stocks were in the red with Emaar Properties (EMAAR) (-4.8% to 3.60 from AED 160m) at the top of the traded value list, followed by Drake & Scull (DSI) (-5.8% to 0.97 from AED 140m), the only other stock trading more than AED 100m. Dar Takaful Insurance (DARTAKAFUL), 10% limit down, was the worst loser, Islamic Arab Insurance (IAIC) fell 8.2%, and Dubai Islamic Insurance (AMAN) fell 6.8% making it a grim day for the insurance companies. Deyaar Development (DEYAAR) fell 6.45%, Union Properties (UPP) 6.3%, Shuaa Capital (SHUAA) 5.0%, and the remaining losers fell less than 5%. There were only two gainers, Global Investment House (GLOBAL) (+4.3%) and Al Salam Bank (SALAM_BAH) (+1.7%), both on limited volumes. Abu Dhabi Securities ExchangeNo stocks traded more than AED 100m worth in Abu Dhabi but Ras Al Khaimah Properties (RAKPROP) was just under that level with AED 99m as it joined Aabar Energy (AABAR) in plummeting 10% limit down by close. The other two property stocks, Sorouh Real Estate (SOROUH) and Aldar Properties (ALDAR), both fell more than 5% on turnover of less than AED 50m each. Other losers included Gulf Pharmaceutical Industries (JULPHAR) down 7.1%, Ras Al Khaimah Cement (RAKCC) 7.0%; Dana Gas (DANA), Sharjah Islamic Bank (NBS), and Waha Capital (OILC) falling more than 6%; and Agthia Group (AGTHIA), Abu Dhabi National Energy (TAQA), and Green Crescent Insurance (GCIC) joining Aldar and Sorouh with falls of more than 5%. The remaining losers fell less than 5% or on low volumes. National Bank of Abu Dhabi (NBAD) fell 4.3% and Emirates Telecom (ETISALAT) just 0.95%. There were 8 gainers with National Bank Of Ras Al Khaimah (RAKBANK) closing 10% limit up at the top of the list albeit from just one small trade, while Arkan Building Materials (ARKAN) up just 0.81% was the only stock rising on more than AED 1m of trading. |
|
UAE stock market news and discussions at Dubai Share Talk ...
|
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- Comment on this report and view previous reports on the Share Wadi blog.
- Discuss UAE companies at Dubai Share Talk.
