Dubai
Dana Gas surged on Thursday with hefty volumes after a deal was proposed by sukuk holders, helping the wider Abu Dhabi index.
Dana Gas hit a fresh 52-week high of Dh0.85, before closing 2.47 per cent higher at Dh0.83.
Union National Bank closed 0.47 per cent lower at Dh4.26.
UNB may find strong support at the rising channel, and ignite recovery to target Dh4.65/5, said Shiv Prakash, senior analyst with National Bank of Abu Dhabi Securities.
Eshraq Properties closed 1.18 per cent lower at Dh0.84. Aldar Properties closed 1.75 per cent higher at Dh2.32.
Mild buying was seen in shares of Dubai Islamic Bank, which closed 1.14 per cent higher at Dh6.19.
The Dubai Financial Market General index closed 0.07 per cent higher at 3,657.23. “The trailing support at 3.620 remains intact, and the index may head higher towards resistance level of 3,680,” said Prakash.
Emaar Properties closed half a per cent lower at Dh8.80. Emaar Malls closed 0.41 per cent lower at Dh2.41.
Gulf Finance House closed at Dh1.80, down 3.23 per cent.
Arabtec closed 1.32 per cent lower at Dh3.
“The stock may test 100 per cent Fibonacci extension level of Dh2.95 in the near term. Traders may look to sell and buy it back from the lower support zone,” said Prakash.
Traded value stood at Dh203 million.
Saudi Arabia’s Tadawul index closed 0.09 per cent lower at 7,373.17.
The transportation and consumer services index closed a little higher, while consumer durable shares lagged in performance.
The Kuwait Market Price Index closed lower. The index closed 0.16 per cent lower at 6,914.
About shares of 95 stocks rose, while 44 declined.
Blue chips were positive. Zain was the top gainer, up 2.52 per cent, closing at 0.528 Kuwaiti dinars. Burgan Bank was the top loser, down 1.61 per cent, closing at 0.366 dinars.
The Muscat MSM 30 index closed 0.28 per cent lower at 5,002.46.
