UAE stock markets change direction

Published December 14th, 2005 - 10:33 GMT

Investors at the UAE stock markets on Wednesday had reason to smile after two days of decreases. The Dubai Financial Market index has moved up by 0.33 per cent to hit 1,096.52 points compared to the previous closing of 1,092.89 points. 4,249 transactions were reported in DFM with a relatively low trade volume of 50,928,417 shares.


The Abu Dhabi Securities Market enjoyed a 1.35 per cent rise to trade at 5,278.07 points compared to 5,207.58 points at the previous closing.


All sectors on the DFM went up, except the Insurance which fell 0.11 per cent. Services sector was the big gainer with 1.10 per cent. The Banking went up by 0.21 per cent and Investment sector was up with a 0.82 per cent climb.


The sectors on the ADSM showed mixed trends. The Insurance lost 1.8 per cent while the Hotels Index lost 2.71 per cent. The Services index went up 0.26 per cent to hit 3,090.92 points compared to 3,082.80 when trading opened. The Industrial sector was the big gainer with a 3.42 per cent jump. The Banking sector climbed by 2 per cent.


The leading movers on the DFM were Dubai Investments which moved up by 2.27 per cent, Int. Financial Advisers with a 2.05 per cent rise, EMAAR Properties climbed by 1.86 per cent and Amlak Finance soared by 1.85 per cent.


The leading losers on the DFM were Global Investment House which downed by 8.49 per cent, National Cement Company which fell by 5.31 per cent and Dubai Islamic Insurance fell by 1.04 per cent.


The top five advancers on the ADSM were Union Cement Co. which gained 8.42 per cent, Gulf Cement Co. added 7.97 per cent, National Bank of Abu Dhabi was upped by 7.24 per cent, Oasis International Leasing Co. climbed 7.12 per cent and Ras Al Khaimah Cement Company was up by 6.43 per cent.


The laggards on the ADSM were Abu Dhabi National Insurance Co. which crashed by 4.76 per cent, Abu Dhabi National Takaful Co. PJSC. with a 4.44 per cent fall, Finance House which dipped by 3.49 per cent, Abu Dhabi National Hotels shed 3.09 per cent and Abu Dhabi Ship Building Co. lost 2.97 per cent.

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