UAE market news & discussions for 06 October 2009 The ADX rose 0.4% to 3163 points from turnover of AED 578m. The DFM rose 1.6% to 2273 points with a substantial increase in turnover to almost AED 2 billion but the index rise held back by a fall in Emirates NBD. On the Nasdaq Dubai at 1630 UAE time, DP World rose 4.4%, Depa was unchanged, DGS rose 2.3%, Damas was up 3.4%, and a handful of derivative trades were made, unchanged or in the green. UAE financial news - latest news from Reuters, Bloomberg and UAE media Dubai Financial Market Emaar Properties (EMAAR) saw trading worth a very solid AED 678m with a decent rise of 4.6% to 4.35. Dubai Financial Market (DFM) was also busy, rising 2.0% from AED 246m worth of turnover. Other stocks trading more than AED 100m worth included Arabtec (ARTC) (+2.3%), Union Properties (UPP) (+4.8%), Drake & Scull (DSI) (+4.7%), Deyaar Development (DEYAAR) (unchanged), and Gulf Navigation (GULFNAV) (+1.15%). National General Cooling (TABREED) was the top gainer with a 6.8% rise to 1.10, apart from a handful of trades in Arab Insurance Group (ARIG) (+9.5%). Dubai Investment Company (DIC) was up 1.4%, and most other normally actively traded stocks were up less than 1% or unchanged. There were 6 losers including Dubai Islamic Insurance (AMAN) down 1.4%, Ektitab Holding (EKTTITAB) down 3.1%, and Al Salam Bank Sudan (ALSALAMSUDAN) down 4.2% on unusually high volumes. The other 3 fell on low trading including Emirates NBD (ENBD) down 0.9%. Abu Dhabi Securities Exchange Aldar Properties (ALDAR) was the most active stock in Abu Dhabi, and the only one trading more than AED 100m with AED 156m worth of deals and a 2.0% rise to 6.26. Al Khazna Insurance (AKIC) was the top gainer on trading of more than AED 1m, closing 10% limit up at 1.28. Abu Dhabi National Takaful (TKFL) was also 10% limit up ... from a single trade. Ras Al Khaimah White Cement (RAKWCT) rose 2.9%, Ras Al Khaimah Properties (RAKPROP) 2.35%, Waha Capital (OILC) 2.0%, and the remaining gainers were up less than 2% or on low volumes. National Bank of Abu Dhabi (NBAD) was up 1.1%, and Emirates Telecom (ETISALAT) rose 0.83%. Six losers fell more than 5% but all of them on low turnover, International Fish Farming (ASMAK) fell 2.8%, also on thin trading, Union National Bank (UNB) down 1.2% was the worst loser trading more than AED 1m, and another 8 losers fell less than 1%, including Dana Gas (DANA) and Aabar Energy (AABAR). | |