UAE stock markets continue to drop
The UAE stock markets on Tuesday maintained their downtrend as the Dubai Financial Market index dropped by 1.06 per cent to hit 1,092.89 points. 6,545 transactions were reported in DFM with a brisk trade volume of 82,993,113 shares.
The Abu Dhabi Securities Market lost 2.35 per cent to trade at 5,207.58 points compared to the previous closing of 5,333.09.
All sectors on the DFM were down. The Insurance fell 0.14 per cent. Services sector was down by 1.28 per cent. The Banking went down by 0.61 per cent and Investment sector was the heaviest loser with a 2.56 per cent fall.
The sectors on the ADSM were in the red. The Insurance climbed by 0.18 per cent. The Services index went down 2.26 per cent to hit 3,082.80 points compared to 3,154.15 when trading opened. The Industrial sector crashed by over 2.33 per cent. The Hotels Index lost 0.28 per cent. The Banking sector was the biggest loser with a drop of 2.67 percent.
The only movers on the DFM were Dubai National Insurance which moved up by 2.28 per cent and Gulf General Investments with a 1.15 per cent rise.
The leading losers on the DFM were Dubai Investments which downed by 6.17 per cent, Amlak Finance which fell by 5.26 per cent, Arab Insurance Group which lost 4.26 per cent, Islamic Arab Ins. lost 4.11 per cent, and SHUAA Capital lost 3.77 per cent.
The top five advancers on the ADSM were Invest Bank which gained 7.96 per cent, Union Cement Co. added 5.26 per cent, Abu Dhabi National Takaful Co. PJSC was upped by 3.51 per cent, Ras Al Khaimah Ceramic Co. climbed 2.83 per cent and Asmak was up by 1.90 per cent.
The laggards on the ADSM were National Bank of Abu Dhabi which crashed by 9.40 per cent, Gulf Pharmaceutical Co. with a 6.33 per cent fall, Fujairah Cement Industries which dipped by 5.49 per cent, Ras Al Khaimah Cement Company shed 4.65 per cent and Dana Gas the most active share lost 3.91 per cent.