UAE Financial Market News
27 January 2010.Markets rose slightly today led by Drake & Scull and Arabtec in Dubai. On the Nasdaq Dubai at 1400 UAE time, DP World is the only stock traded so far, down 2.8% to $0.515.
Dubai Financial Market
The Dubai index rose 0.60% to 1565 points from turnover of AED 242m with Emaar Properties (EMAAR) the most active stock, up 1.7% to 2.95 from turnover of AED 64m. Drake & Scull (DSI) was the best of the more active stocks, up 5.0% to 0.84, Al Salam Bank Sudan (ALSALAMSUDAN) rose 3.9%, Dubai Investment Company (DIC) was up 3.5%.
Arabtec (ARTC) 3.35%, Dubai Financial Market (DFM) 2.8%, and the remaining gainers rose less than 2% or on low volumes. Union Properties (UPP) was the worst loser, down 5.6% to 0.51, Gulf Finance House (GFH) fell 4.4%, Al Madina Finance (ALMADINA) 4.2%, Emirates NBD (ENBD) 3.9%, and the other losers were down less than 3% or on low volumes.
Abu Dhabi Securities Exchange
The ADX was rose marginally by 0.12% to 2602 points from AED 137m worth of trading, with Aldar Properties (ALDAR) the most active stock, down 2.25% to 3.90 from AED 68m worth of deals. Several stocks closed 10% limit up - Abu Dhabi Aviation (ADAVIATION), Sharjah Cement (SCIDC), and Finance House (FH) on low volumes, and National Marine Dredging (NMDC) the only one on turnover of more than AED 1m. Sharjah Islamic Bank (NBS) was up 2.9%, Aabar Energy (AABAR) rose 1.9%, and the remaining gainers were up less than 1.5% or on thin trading.
Several stocks closed unchanged including Abu Dhabi Commercial Bank (ADCB), Ras Al Khaimah Properties (RAKPROP), and Abu Dhabi National Energy (TAQA). GLS and International Fish Farming (ASMAK) were the worst losers, both down more than 9% but from just a single trade each. Waha Capital (OILC) was the worst of the more active losers, down 2.3% to 0.85, First Gulf Bank (FGB) fell 1.6%, and the other l osers were down less than 1.5% or on low volumes. Emirates Telecom (ETISALAT) was up 0.46%, and National Bank of Abu Dhabi (NBAD) was down 0.45%.
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