Rally on UAE bourses loses steam
Dubai index has gained 4.28% in three of the past four session
Dubai: UAE bourses witnessed mixed trend on Sunday, signifying a temporary halt in rally.
The Dubai Financial Market general index closed 0.16 per cent lower at 2,846.07. The Dubai index has gained 4.28 per cent in three of the past four session, and accumulated 8 per cent gains since July 9, when the index breached its 50-day moving average.
Shares remained mixed. Aramex closed 2.53 per cent higher at Dh4.45. Gulf Finance House closed at Dh0.934, up 0.43 per cent. Emaar Properties closed 1.34 per cent lower at Dh5.16. Union Properties closed 0.27 per cent lower at Dh0.365. Dubai Islamic Bank closed 0.57 per cent higher at Dh5.27.
Traded value fell to Dh181 million from more than Dh300 million seen on Thursday.
The Abu Dhabi Securities Exchange general index closed 0.73 per cent lower at 5,348.50. The Abu Dhabi index has gained 6.8 per cent in the eight out of nine sessions. Dana Gas closed 2.78 per cent lower at Dh1.05. Al Dar Properties ended 1.69 per cent lower at Dh2.32.
Elsewhere in the region, Saudi Tadawul index closed 0.46 per cent higher at 8,859.32. Most of the gains on the Tadawul index came in from shares of retail and consumer durables along with energy companies.