UAE market news & discussions for 01 July 2009The DFM rose 1.4% to 1810 points from lower turnover of AED 564m with Aramex the top gainer and by traded value on the news of increased foreign ownership limits. Most stocks were in the green but not Emaar. The ADX fell slightly, by 0.1% to 2629 points from turnover of AED 243m, with the property sector and Etisalat in the red.. On the Nasdaq Dubai at 16:00 UAE time, DP World is up 0.83%, Damas is down 3.6%, Depa up 3.3%, and GOLD down 1.15%.
Dubai Financial MarketArab International Logistics (ARMX), unusually, was at the top of the traded value list with AED 120m worth and the only stock trading more than AED 100m, and that was despite the stock trading at 15% limit up at 1.39 for most of the day with few sellers in the queue. Emaar Properties (EMAAR) was the next most active stock and fell 0.72% to 2.76. Emarat Takaful Insurance (TAKAFUL-EM) rose 5.1%, Emirates Integrated Telecommunications (DU) was 5% limit up, Dubai Financial Market (DFM) up 4.3%, and most other actively traded stocks rose less than 3%. Shuaa Capital (SHUAA), down 5.2%, was the worst of the more active losers, Al Salam Bank (SALAM_BAH) fell 2.7%, Union Properties (UPP) 1.1%, and 3 other stocks fell on low volumes. Abu Dhabi Securities ExchangeNone of the Abu Dhabi stocks traded more than AED 100m, however it wasn't the property stocks that topped the traded value table for a change. Dana Gas (DANA) was the most heavily traded with AED 72m worth and rose 4.7% to 1.16, First Gulf Bank (FGB) was number two in the traded value list and rose 1.9% to 13.60. The volatile Methaq Islamic Insurance (METHAQ) was the top gainer of the day with a 10% limit up rise to 5.51 and no willing sellers. Aabar Energy (AABAR) rose 2.5%, and the remaining gainers were up less than 2% or on low volumes. Sorouh Real Estate (SOROUH) was the worst of the more active losers with a 1.8% fall to 2.77, followed by Aldar Properties (ALDAR) down 1.6%, Ras Al Khaimah Properties (RAKPROP) and Union National Bank (UNB) down 1.4%, and Abu Dhabi Commercial Bank (ADCB) down 1.2%. The remaining losers fell less than 1% or on low turnover. Emirates Telecom (ETISALAT) was down 0.50% while National Bank of Abu Dhabi (NBAD) rose 0.82%. |
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