UAE market news & discussions for 30 June 2009The DFM fell 0.6% to 1784 points from turnover of just over AED 1 billion, with Emaar slipping again and most other actively traded stocks in the red or unchanged - Arabtec and DFM two notable exceptions. The ADX was up 1.4% to 2631 points from turnover of AED 246m with most of the actively traded stocks in the green. On the Nasdaq Dubai at 14:30 UAE time, DP World is up 2.6% on low volumes, Depa is unchanged, GOLD is up 0.53%, and there have been a handful of derivative trades for Dana (+3%), Sorouh (unchanged), and Shuaa (+1.4%).
Dubai Financial MarketArabtec (ARTC) was the most heavily traded stock in Dubai today with a gain of 1.9% to 2.66 from turnover of AED 239m. Emaar Properties (EMAAR) was the second most active stock by value, with AED 222m worth and a fall of 1.8% to 2.78. Dubai Financial Market (DFM), up 3.8% and the best gainer of the more active stocks, and Drake & Scull (DSI), down 3.2%, were the only other two stocks with more than AED 100m of trading. There were only 6 gainers, the others were Oman Insurance (OIC) 5% limit up from one small trade, Islamic Arab Insurance (IAIC) up 2.7%, Arab International Logistics (ARMX) up 2.5%, and Al Salam Bank Sudan (ALSALAMSUDAN) up 1.55%. Global Investment House (GLOBAL) fell 10% limit down from one small trade, Shuaa Capital (SHUAA) was the worst of the more active losers, falling 5.0% to 1.75, Emarat Takaful Insurance (TAKAFUL-EM) fell 3.7%, and the remaining losers were down less than 3% or on thin trading. Abu Dhabi Securities ExchangeNo stocks in Abu Dhabi saw trading worth more than AED 100m. Ras Al Khaimah Properties (RAKPROP), up 4.35%, was the most heavily traded by value but that was still less than AED 50m worth. Four stocks closed at 10% limit up prices - National Marine Dredging (NMDC) on greater than usual volumes, Union Cement (UCC), Methaq Islamic Insurance (METHAQ), and Commercial Bank International (CBI). Dana Gas (DANA) was up 7%, Aldar Properties (ALDAR) 6.4%, and most other stocks rose less than 5%. National Bank of Abu Dhabi (NBAD) was up 1.0% and Emirates Telecom (ETISALAT) 0.5%. There were 9 losers; National Bank Of Ras Al Khaimah (RAKBANK) and Abu Dhabi National Insurance (ADNIC) 10% limit down on few trades, and Union National Bank (UNB) down 0.83% the only stock falling on more than AED 1m worth of deals. |
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