UAE Financial Market News
20 January 2010. The Dubai index rose, and the Abu Dhabi index was almost unchanged, with both markets seeing low trading volumes. On the Nasdaq Dubai at 1615 UAE time, DP World is down 4.1%, and Damas is unchanged.
Dubai Financial Market
The Dubai Financial Market (DFM) rose 0.94% to 1677 points from turnover of AED 210m. Emaar Properties (EMAAR) was the most active stock, up 1.8% to 3.38 from AED 53m worth of deals. HITS Telecom was the top gainer, up 5.3% to 1.40, Arab International Logistics (ARMX) rose 4.4%, Al Madina Finance (ALMADINA) 3.1%, Arabtec (ARTC) 2.55%, and most other stocks were up less than 2.5% or unchanged.
There were only 4 losers with Dar Takaful Insurance (DARTAKAFUL) the worst of them, down 7.6% to 1.46 on low volumes, and National General Cooling (TABREED), down 1.35%, the only loser trading more than AED 1m.
Abu Dhabi Securities Exchange
The ADX moved down slightly by 0.07% to 2654 points from turnover of AED 105m. Aldar Properties (ALDAR) was the most active stock, down 0.22% to 4.56 from just AED 22m. Abu Dhabi Aviation (ADAVIATION) was the worst loser, 10% limit down from a single large trade. Gulf Medical Projects (GMPC) fell 3.2%, Ras Al Khaimah Cement (RAKCC) and Abu Dhabi Islamic Bank (ADIB) fell 1.8%, and the remaining losers were down less than 1.5%.
Several stocks were unchanged, including Emirates Telecom (ETISALAT), Ras Al Khaimah Properties (RAKPROP), and Dana Gas (DANA). GLS (Gulf Livestock) was the top gainer with its first trade for 2010, somehow beating the 10% limit on the ADX with a 24% increase to 4.80 from just one trade. First Gulf Bank (FGB) was up 2.3%, Sharjah Islamic Bank (NBS) rose 1.0%, and the other gainers were up less than 1% or on low volumes.
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