UAE shares reel under selling pressure

Dubai: Dubai’s DFM index declined for the third day to close 0.86 per cent lower at 1545.40 on selling pressure.

Among the gainers, Ekttitab rose 3.37 per cent to close at Dh0.921, followed by Hits Telecom by 3.20 per cent to Dh0.934 and Salam Bahrain by 3.17 per cent to Dh0.423.

Among the losers, Salama fell 4.86 per cent to Dh0.685, followed by Deyaar by 3.57 per cent to Dh0.351 and Gulf Finance House by 3.47 per cent to Dh0.501.

Of the 28 companies traded, eight rose, 18 declined and two remained unchanged.

About 163.92 million shares worth Dh171.62 million were traded yesterday.

The index touched a high of 1562.39 and a low of 1542.90 points during the intra trade.

Real estate and bank shares dragged the Abu Dhabi Securities Market (ADX) index down for the second day by 3.60 per cent to close at 2574.11.

Of the 30 companies traded, five rose, 18 declined and seven closed unchanged.

About 101.81 million shares worth Dh122.96 million were traded yesterday.

Among the gainers, Emirates Insurance Co rose 8.33 per cent to Dh6.50, followed by Watania by 7.48 per cent to Dh1.15 and Agthia by 2.04 per cent to Dh2.

Among the losers, Commercial Bank International lost 9.71 per cent to Dh0.93, followed by Bank of Sharjah by 4.24 per cent to Dh1.10 and Finance House by 3.33 per cent to Dh2.90.