Realty, mortgage shares record mixed results on bourses
Shares of UAE property major Emaar continued to fall on Wednesday, closing 5 fils down at Dh13.65, while the shares slipped to a mid-day low of Dh13.40. Home financing firm, Amlak and Arabtec Construction LLC, on the other hand, reported modest gains of 0.5 per cent each, while du reported the biggest gain of the day at 5.3 per cent.
Tamweel PJSC, also one of the UAE's leading home finance companies along with Amlak, also reported gains; after having major gains last week. Tamweel was in limelight again with 2.7 per cent gain on Wednesday.
The Dubai Financial Market (DFM) index gained 0.75 per cent to 431 yesterday as its Abu Dhabi counterpart slipped marginally to 3589.4.
Between both the Dubai and Abu Dhabi bourses, the UAE market traded more than 311 million shares worth Dh2 billion as DFM traded 281 million shares worth over Dh1.82 billion. On the Dubai Financial market, more than 70 per cent of the volumes were traded in the services sector with key shares such as Amlak, du, Aramex and Tamweel closing higher.
Meanwhile in the banking sector, Commercial Bank of Dubai and Emirates Bank slipped 0.6 per cent and 1 per cent, respectively as Dubai Islamic Bank closed 0.4 per cent up at Dh10.95.