Tuesday trading sees wins and losses on UAE stock market
(MEBG) - With trading mainly focused on the Emaar property company yesterday, DFM trade volume declined with a total turnover volume of 44,719 shares valued at more than Dh974,736. The Emaar share price opened at Dh23.80, fell to a low of Dh22 before recovering 80 fils to its closing price of Dh22.80, a loss of 4.2 percent for the day.
Dubai Islamic Bank (DIB) also fell 45 fils and closed at Dh17.05 and the Dubai Investment Company rose by 15 fils to Dh7.30.
The general index of National Bank of Abu Dhabi (NBAD) fell 5.1 points as a result of losses in all sectoral indices, and closed at 2591.19. The banking sector index lost 5.18 points to level at 2510.92, while the service sector index and insurance sector index dropped by 6.32 and 2.04 points respectively to levels of 3228.04 and 2356.68.
The NBAD market review listed four major losers in the OTC market, led by Abu Dhabi National Foodstuff, with a drop of Dh1 closing at Dh19, followed by Al Wathba Insurance and First Gulf Bank with a loss of 5 fils each. Abu Dhabi Islamic Bank closed at Dh16.50, down 25 fils, with a trade volume of over 9,000 shares, while Union National Bank with a volume of 68,365 shares fell 3 fils to Dh27.50.
According to Emirates Financial Services (EFS), the top movers in the OTC market included Etisalat, upDh30 to Dh1000 with a modest volume of 2,500 shares, and Asmak’s stock rose 50 fils to close at Dh7.50.
Emnex rose 12.72 points to 1599.85, adding to the 1.93 percent rise in the service sub-index, which closed at 1612.2 points. The bank sub-index fell 2.61 points to 1677.82 while the insurance sub-index closed without change at 1079.68.
Blue Chip was up 11.82 points closing at 894.39, while New Cos declined 6.81 points to 923.46. Property was also down 9.89 points to 767.4, Islamic down 14.67 points to 746.89, while Large Cap closed at 736.16, a rise of 7.18 points.