UAE market news & discussions for 11 October 2009The ADX rose 1.2% to 3230 points from turnover of AED 628m with Waha Capital leading the gainers on heavy trading. The DFMGI was up 1.2% to 2325 points from turnover of AED 1.5 billion with about a third of that value from Emaar, also leading the gainers. On the Nasdaq Dubai at 1400 UAE time, DP World is the only stock traded so far, down 1.6%. Dubai Financial MarketEmaar Properties (EMAAR) was the most active stock in Dubai with AED 466m worth of deals and a 2.7% rise to 4.56 putting it in second place on the gainers list. Air Arabia (AIRARABIA) was also busy with AED 205m worth of trading and a 2.6% rise to 1.20. Other stocks trading more than AED 100m were Deyaar Development (DEYAAR) (+1.1%), Drake & Scull (DSI) (+2.6%), Dubai Financial Market (DFM) (+1.6%), and Dubai Islamic Bank (DIB) (+0.3%). Gulf Finance House (GFH) was the top gainer closing 15% limit up at 2.59 with no sellers in the queue and greater than usual turnover of AED 2.7m worth. Apart from Al Firdous Holdings (ALFIRDOUS), up 2.4% on thin trading, the other gainers were up less than 2%. Al Madina Finance (ALMADINA) was the worst loser, falling 10% limit down on low volumes, Ektitab Holding (EKTTITAB) fell 3.3% on greater than usual turnover, Dar Takaful Insurance (DARTAKAFUL) and Arab International Logistics (ARMX) fell 1.1%, and the other 3 gainers fell less than 1% or on low volumes. Abu Dhabi Securities ExchangeWaha Capital (OILC) stood out in Abu Dhabi with a 6% rise to 6.00 from AED 187m worth of deals, making it the best of the more active gainers and the most heavily traded stock. National Bank of Abu Dhabi (NBAD) was up 2.9%, First Gulf Bank (FGB) rose 2.7%, Ras Al Khaimah Properties (RAKPROP) 2.3%, Ras Al Khaimah Cement (RAKCC) was up 2.2% on relatively heavy trading, Abu Dhabi Islamic Bank (ADIB) rose 2.1%, and the remaining gainers were up less than 2% or on light turnover. Emirates Telecom (ETISALAT) rose 1.6% to 12.55. National Marine Dredging (NMDC) was the worst loser, falling 8.5% to 8.50 on greater than usual turnover, Abu Dhabi National Energy (TAQA), was down 0.58%, Abu Dhabi Commercial Bank (ADCB) and Methaq Islamic Insurance (METHAQ) fell 0.4%, and the other 7 losers fell on turnover of less than AED 1m each. |
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