UAE market news & discussions for 06 October 2009The 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. Dubai Financial MarketEmaar 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 ExchangeAldar 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). |
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