Small stocks recover on UAE bourses
Traded value fell to a paltry Dh89 million in Dubai
Dubai
Small stocks in the UAE gained in trade on Sunday, recovering from their lows, when they witnessed profit-taking on Thursday.
Gulf Finance House closed 9.15 per cent higher at Dh0.930, after gaining 10 per cent in the previous session. Union Properties closed 1.23 per cent higher at Dh0.410. Salama Insurance closed 3.77 per cent higher at Dh0.440. Union Properties closed 1.23 per cent higher at Dh0.410. Dana Gas closed 2.77 per cent higher at Dh0.85. Dubai Islamic Bank closed 0.80 per cent lower at Dh4.96.
Traded value fell to a paltry Dh89 million in Dubai. “Going forward, the trading activity within the MENA region is likely to track the sentiments in global markets as well as the movement in oil prices, which continues to influence the performance of regional economies,” Allied Investment Partners said in a note.
DXB Entertainments closed 2.61 per cent higher at Dh0.236. The Abu Dhabi Securities Exchange general index closed 0.16 per cent lower at 4,823.34.
Elsewhere in the Gulf, Saudi Arabia’s Tadawul index closed 0.78 per cent higher at 7,809.77. The Muscat MSM 30 index closed 0.07 per cent lower at 4,341.45. The Qatar exchange index closed 0.04 per cent lower at 10,283.72. The Kuwait index closed 0.03 per cent higher at 5,072.60.