Business | Markets

Dubai, Abu Dhabi continue to see-saw

The UAE stock markets moved this week in line with the trends on international markets - for the first three trading days it posted solid gains but over the last two days the sentiments weakened.

  • By Himendra Mohan Kumar, Staff Reporter
  • Published: 23:55 October 23, 2008
  • Gulf News

Abu Dhabi: The UAE stock markets moved this week in line with the trends on international markets - for the first three trading days it posted solid gains but over the last two days the sentiments weakened.

Yesterday, while the Abu Dhabi Securities Exchange (ADX) general index declined 2.03 per cent, the Dubai Financial Market (DFM) index rose 1.49 per cent, helped by a strong showing by some of the listed companies in the third quarter.

As a result, the Emirates Securities Market index decreased by 0.65 per cent to close at 4,062.92.

The Emirates Securities And Commodities Authority (ESCA), the UAE regulator of the Dubai and Abu Dhabi stock markets, said that as of yesterday, there was a Dh3.81-billion drop in market capitalisation, which currently stands at Dh579.66 billion.

On the ADX, the general index closed at 3,522.41 while in Dubai, the DFM index ended at 3,256.98. While shares of Aldar Properties were the most actively traded in terms of volume, Oman & Emirates Inv Holding Co was the day's main gainer on the market, with its share prices increasing 9.96 per cent to close at Dh2.98. Ras Al Khaimah Ceramic Co was the day's main loser on the ADX with its shares ending 9.82 per cent lower at Dh2.57.

In Dubai, Emaar Properties came at the top of the most active companies by volume, with its shares gaining 4.53 per cent during the day to close at Dh6.00 a share. The top gainer for the day on DFM was DarTakaful, whose shares rose 5.38 per cent to close at Dh2.74. Shares of Grand declined the most on the market, falling 9.68 per cent during the day to close at Dh1.40 a share.

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