UAE stock markets down
The UAE stock markets on Thursday could not maintain the previous day's hikes and ended the trading week in the red. The Dubai Financial Market index has moved down by 0.18 per cent to hit 1,094.54 points. 3,812 transactions were reported in DFM with a thin trade volume of 39,918,087 shares.
The Abu Dhabi Securities Market lost 0.52 per cent to trade at 5,250.60 points compared to 5,278.07 points at the previous closing.
All sectors on the DFM went down. The Insurance fell 0.73 per cent. Services shed 0.19 per cent. The Banking went down by 0.19 per cent and Investment sector was the biggest loser with a 1.45 per cent decline.
The sectors on the ADSM showed mixed trends. The Insurance added 2.31 per cent while the Hotels Index added 3.42 per cent. The Services index went up 0.95 per cent to hit 3,120.36 points compared to 3,090.92 when trading opened. The Industrial sector posted a 0.99 per cent drop. The Banking sector was the biggest loser with a 1.91 per cent drop.
The only mover above 1 per cent on the DFM was the Commercial Bank of Dubai which soared by 1.21 per cent.
The leading losers on the DFM were Global Investment House which downed by 6.28 per cent, Dubai National Insurance which fell by 5.58 per cent and Dubai Insurance fell by 2.96 per cent.
The top five advancers on the ADSM were Abu Dhabi National Insurance Co. which gained 5 per cent, Al Ain Al Ahlia Insurance Co. up by 4.24 per cent, Abu Dhabi National Hotels climbed 3.72 per cent, Commercial Bank International was up by 3.11 per cent and Oasis International Leasing Co. surged by 2.53 per cent.
The laggards on the ADSM were National Bank of Abu Dhabi which crashed by 5.02 per cent, Fujairah Cement Industries with a 4.61 per cent fall, Union Cement Co. which dipped by 3.64 per cent, RAK Properties lost 2.88 per cent and Union National Bank lost 1.95 per cent.