Dubai slips on profit-taking but Abu Dhabi advances for second day
Dubai and Abu Dhabi bourses trade cautiously
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UAE shares traded cautiously on Tuesday and booked some profits, especially Dubai, as traders await greater clarity on US monetary policy.
The US Federal Open Market Committee completes its policy meeting on Wednesday.
The Dubai index ended 0.14 per cent down at 2379.49 per cent while Abu Dhabi index ended slightly on the positive side at 3659.54 points.
The DFM index bounced back from a 2.3 per cent fall on Sunday to close 1.6 per cent up on Monday.
Among the gainers, International Financial Advisors rose eight per cent, followed by Arabtec by 2.36 per cent and CBD by 2.36 per cent.
Arabtec shares advanced for the second day and gained the most in June after winning the Dh4 billion Kazakhstan contract.
Among the losers, Gulf Finance House fell 4.43 per cent followed by Ekttitab by 4.31 per cent and Al Salam Bank — Bahrain by 3.93 per cent.
Of the 29 companies traded, seven rose, 19 fell and three remained unchanged.
About 352.69 million shares worth Dh521.91 million were traded.
Gulf Finance House was the active volume leader while Arabtec was the active value leader.
In Abu Dhabi, Finance House was the biggest gainer while National Marine Dredging Co was the biggest loser.
Of the 38 companies traded, 20 rose, 10 fell and eight remained unchanged.
About 228.80 million shares worth Dh469.50 million were traded.
Aldar was the active value leader while Methaq was the active volume leader.
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