Dubai: After last week’s new high for Dubai’s stock index and Abu Dhabi’s lacklustre performance, UAE stocks ended this week on Thursday in positive territory, despite some stocks going ex dividend and others, posting losses for the 2013.
For the week, Dubai’s benchmark measure, DFM General Index, gained 1.79 per cent to end at 4380.67. On Thursday, it closed almost flat, slipping 0.06 per cent.
The share price of Dubai-based investment bank, Shuaa Capital, registered a four-year high amid bets that it might win a good number of deals in the event of more IPOs coming to the market. It closed at Dh1.43, its highest close since April 2010, and in the past two days, the stock has advanced 30 per cent. In the past 12 months, it has surged about 150 per cent.
In Abu Dhabi, the ADX Securities Index closed 1.47 per cent higher for the week. On Thursday, it was almost unchanged, adding 0.05 per cent to end at 4855.10. Of the 39 stocks traded, 19 increased, 11 decreased and nine remained flat.
On ADX, real estate and investment and financial services indexes fell, while insurance, consumer staples and industrials rose. Among the most active stocks, Aldar Properties was down 3.09 per cent to Dh3.45; Dana Gas lost 2.47 per cent to Dh0.79; Waha Capital slipped 3.38 per cent to Dh2.63 and etisalat fell 0.42 per cent to Dh11.90.
National Bank of Umm Al Qaiwain was the biggest gainer, surging 14.89 per cent to Dh3.55. First Gulf Bank, among the active stocks, closed 0.31 per cent higher at Dh16.20.
In Dubai, majority of the stocks declined. Among the most active ones, real estate companies Union Properties, Emaar Properties, Deyaar Development retreated 0.91 per cent, 0.30 per cent and 2.24 per cent respectively. Dubai Investments and Al Salam Bank, Bahrain, were flat. Arabtec gained 1.72 per cent to Dh5.93.
