UAE market news & discussions for 24 June 2009After yesterday's bloodbath, it was perhaps a little surprising that the DFM recovered so strongly today, however the ADX still ended the day in the red. The ADX fell 1.05% to 2629 points from turnover of AED 304m while the DFM rose 3.7% to 1908 points from turnover of AED 928m with Drake & Scull in particular soaring on solid trading. On the Nasdaq Dubai at 16:15 UAE time, DP World is up 5.6%, Damas and Depa are unchanged, GOLD is up 0.22%, and there have been single derivative trades for Air Arabia, Dubai Islamic Bank, and Arabtec, all in the green.
Dubai Financial MarketDrake & Scull (DSI) topped both the traded value and gainers list with a 13.5% rise to 1.01 from AED 280m worth of deals. Emaar Properties (EMAAR) was the only other stock trading more than AED 100m worth, rising by 5.0% to 3.36 from AED 220m worth of deals. Islamic Arab Insurance (IAIC) rose 6.1%, Union Properties (UPP) 5.3%, Deyaar Development (DEYAAR) 5.2%, Dubai Islamic Insurance (AMAN) 5.0%, and most other actively traded stocks were up between 2% and 5%. Shuaa Capital (SHUAA) closed unchanged at 1.28 after hitting a 10% limit down low this morning. There were only two losers, Al Firdous Holdings (ALFIRDOUS) 5% limit down and Commercial Bank of Dubai (CBD) down 4.6%, both on low volumes. Abu Dhabi Securities ExchangeAbu Dhabi was looking poorly today with most of the actively traded stocks in the red or unchanged. The top three stocks by traded value were the property companies: Aldar Properties (ALDAR) and Sorouh Real Estate (SOROUH) fell less than 1%, and Ras Al Khaimah Properties (RAKPROP) was unchanged. In the green were Invest Bank (INVESTB) and Gulf Pharmaceutical Industries (JULPHAR) both closing 10% limit up although on low volumes. Dana Gas (DANA) up 1.0%, and National Bank of Abu Dhabi (NBAD) up just 0.1%, were the only two gainers trading more than AED 1m worth. Finance House (FH) and Gulf Medical Projects (GMPC) topped the losers list with closing prices 10% limit down albeit on low turnover. First Gulf Bank (FGB) was the worst of the more actively traded companies, falling 5.1% to 13.20. Aabar Energy (AABAR) fell 4.5%, Methaq Islamic Insurance (METHAQ) 2.3%, Abu Dhabi National Energy (TAQA) 1.9%, and the remaining losers were down less than 1% or on low volumes. Emirates Telecom (ETISALAT) fell just 0.1% to 10.00. |
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