Dubai: The Dubai index rose on Thursday amid low volumes, recovering from a three-day losing streak, even as traders waited for more results. The Abu Dhabi index, however, ended lower.

The Dubai Financial Market General Index ended 0.86 per cent higher at 3,882.93, after losing more than a per cent in the previous three sessions.

Emirates NBD, whose 2014 net profit rose 58 per cent, rose 4.33 per cent to end at Dh9.39. Amanat Holdings also rose 2.44 per cent higher at Dh0.799. Gulf Navigation Holding ended 2.34 per cent higher at Dh0.394.

Emaar Properties, which has the maximum weightage on the index, ended 0.67 per cent higher at Dh7.5, making it the most active stock in terms of value. Arabtec, which was the second most active stock in trade, ended steady at Dh3.

Shares of Emaar Malls Group ended 1.81 per cent higher at Dh2.820 after the company said its 2014 profit were 23 per cent higher and revenues 13 per cent higher than in 2013.

“People are a just a little bit risk off this that’s why we saw trading value slump this week. People were treading water this week,” said Sanyalaksna Manibhandu, Manager of Research, NBAD Securities.

“The ups and downs seem to have reduced. In January the percentage change reduced a bit, so that may be a start of some sort of stabilisation,” said Manibhandu. In early December, the Dubai index gave up all its gains registered in 2014 only to end the year higher by 11 per cent.

Volumes slumped below Dh1 billion for three trading sessions, as investors stayed away from taking fresh positions. Volumes were placed at Dh310 million on Thursday.

Most others fall

Abu Dhabi Securities Exchange General Index ended 0.36 per cent lower at 4,526.92.

Finance House ended 4.30 per cent lower at Dh3.34, while Sudan Telecommunications ended 3.9 per cent lower at Dh0.74.

Aldar Properties ended flat at Dh2.65, making it the most active stock in terms of value in trade. First Gulf Bank ended 1.19 per cent lower at Dh16.65 ahead of its results next week.

Saudi’s Tadawul All Share index ended 0.33 per cent higher at 8,421.72 provisionally. Etihad Etisalat Co.’s shares sank the most in more than two months after the Saudi Arabian phone operator known as Mobily posted its first quarterly loss in nine years.

Mobily tumbled almost 10 per cent to 42.70 riyal, the biggest slide since November 6.

Elsewhere in the gulf, Qatar exchange index ended 1.27 per cent lower at 11,698.86, while Kuwait Stock Exchange Index ended steady at 6,662.81. Muscat Securities 30 index ended 0.10 per cent higher at 6,644.51. Bahrain Bourse All Share Index ended 0.34 per cent lower at 1,428.65.