UAE market news & discussions for 23 July 2009The ADX was almost unchanged with a 0.03% rise (less than 1 point) to 2711 points from moderate turnover of AED 338m, pushed up by a large volume of trading in RAK Cement. The DFM saw a better gain of 0.68% to 1752 points from rather low turnover of AED 220m. On the Nasdaq Dubai at 14:30 UAE time, DP World is down 2.2%, Depa is down 3.6% and there has been one trade in Air Arabia derivatives (price unchanged). Dubai Financial MarketDIB was the most active stock in Dubai today, but still only saw AED 39m worth of deals as it gained 3.75% to close at 2.49, putting it in third place on the gainers list. Arabtec (ARTC) was just behind on turnover with AED 37m worth of deals, and fell 0.39% to 2.57. Emaar Properties (EMAAR) was pushed into third place on turnover with just AED 26m worth, and rose 0.39% to 2.56. Dar Takaful Insurance (DARTAKAFUL) was the best gainer with a rise of 4.35% to 2.40, level with Al Firdous Holdings (ALFIRDOUS) also rising 4.35% but on minimal trading levels. Other gainers included Emarat Takaful Insurance (TAKAFUL-EM) up 2.6%, Islamic Arab Insurance (IAIC) up 2.4%. Arab International Logistics (ARMX) up 2.0%, and most other stocks rising less than 2%. There were only 5 losers, Arab Insurance Group (ARIG) the worst of them with a 5% fall from a single trade, and only Dubai Investment Company (DIC) and Arabtec falling on turnover of more than AED 1m, both down less than 1%. Abu Dhabi Securities ExchangeDana Gas (DANA) was the most active stock in Abu Dhabi with a 3.8% rise from just under AED 100m worth of deals, followed by Ras Al Khaimah Cement (RAKCC) trading just over AED 80m worth of stocks and closing price unchanged at 1.30. Agthia Group (AGTHIA) was the best gainer with a 6.4% rise to 1.70, followed by Aabar Energy (AABAR) up 4.65% and Waha Capital (OILC) up 3.95%. Other gainers included Abu Dhabi Commercial Bank (ADCB) up 3.4%, Gulf Cement (GCEM) up 2.3% on low volumes, and the remainder up less than 2% including National Bank of Abu Dhabi (NBAD) up 1.8% to 11.10. Abu Dhabi National Takaful (TKFL) was the worst loser, closing 10% limit down from just one small trade. The next 5 losers all fell on low volumes. Ras Al Khaimah Properties (RAKPROP) was the worst of the more active stocks, down by 1.4%, First Gulf Bank (FGB) and Ras Al Khaimah White Cement (RAKWCT) fell 1.0%, and the remaining losers fell less than 1% including Emirates Telecom (ETISALAT) down 10.94% to 10.60. |
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