UAE Financial Market News
18 January 2010. UAE markets rose slightly today, although a fall in Emirates NBD and a flat day for Etisalat held both indexes back from better gains. On the Nasdaq Dubai at 1415 UAE time, DP World is up 6.9%, and Depa is up 4.0%.
Dubai Financial Market
The Dubai Financial Market (DFM) rose 0.87% to 1688 points on increased volumes of AED 370m with Arabtec (ARTC) the top traded stock and also the best of the more active gainers, up 4.3% to 2.43 from AED 147m worth. Emaar Properties (EMAAR) was the only other stock trading more than AED 100m, up 1.2% to 3.43 from AED 126m worth. National General Cooling (TABREED) rose 2.7%.
Dubai Financial Market (DFM) 2.5%, and most other more active stocks were up less than 2% or unchanged. Global Investment House (GLOBAL) was the worst loser, 10% limit down but from low volumes, Gulf Finance House (GFH) was the worst loser on turnover of more than AED 1m, down 4.1%, and another 3 stocks fell less than 2% including Emirates NBD (ENBD) down 0.75%.
Abu Dhabi Securities Exchange
The ADX rose 0.20% to 2680 points from increased turnover of AED 224m with Aldar Properties (ALDAR) dominating trading and the only stock seeing more than AED 100m worth of deals, up 2.65% to 4.72 from AED 130m. Abu Dhabi National Hotels (ADNH) was a surprise in second spot by turnover, with AED 23m worth of shares changing hands from just 5 deals as it fell 2.7% to 3.99, making it the worst of the more actively traded losers. Gulf Pharmaceutical Industries (JULPHAR) was the top gainer, up 8.6% to 1.77 but from just one small trade.
Ras Al Khaimah Cement (RAKCC) was the best stock rising on more than AED 1m worth of turnover, up 2.9% to 1.06. Sorouh Real Estate (SOROUH) rose 2.3%, Aabar Energy (AABAR) 2.2%, and the remaining gainers were up less than 2% or on low volumes. Emirates Telecom (ETISALAT) was unchanged at 11.00, and National Bank of Abu Dhabi (NBAD) was untraded. Abu Dhabi National Building Materials (BILDCO) was the worst loser, down 8.1% to 1.71 but from just one small trade. First Gulf Bank (FGB) fell 2.2% and the other losers were down less than 2% or on low volumes.
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