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Dubai and Abu Dhabi indices trade opposite ways

Profit-taking, central bank’s new property lending rules probably dragged Dubai down

Gulf News

Dubai’s DFM index fell 0.40 per cent to close at 1622.53 points on Monday on profit taking and central bank’s new lending restrictions. Among the gainers, Union Properties rose 1.28 per cent to close at Dh0.395, followed by GGICO by 1.16 per cent to Dh0.348 and Gulf Navigation by 0.74 per cent to Dh0.272.

Among the losers, Shuaa fell 6.95 per cent to Dh0.549, followed by Al Salam Bank – Bahrain by 6.12 per cent to Dh0.506 and Dartakaful by 4.73 per cent to Dh0.524. Of the 27 companies traded, eight rose, 13 declined and six remained unchanged.

About 165.76 million shares worth Dh210.31 million were traded.

The index hit a low of 1617.55 and a high of 1630.99 during intra trade on Monday.

The market will be closed on January 1 to mark New Year and trade resumes on Wednesday.

Abu Dhabi market

Energy and industrial shares lifted the Abu Dhabi Securities market (ADX) index further by 0.15 per cent to close at 2630.86 points..

Among the gainers, Sudan Telecommunication Co Ltd (Sudatel) rose 8.82 per cent to Dh1.11, followed by Gulf Cement Co by 6.32 per cent to Dh1.01 and Umm Al Quwain Cement Industries Co by 5.56 per cent to Dh0.77.

Among the losers, Al Buhaira National Insurance Company lost 9.41 per cent to Dh3.85, followed by Insurance House by 5.71 per cent to Dh0.99 and Foocco by 3.85 per cent to Dh1.25.

Eahraq was the volume leader while Etisalat was the leader in value. Of the 31 companies traded, 13 rose, five declined and 13 closed unchanged. About 64.27 million shares worth Dh75.9 million were traded on Sunday.

The market will be closed on January 1 to mark New Year and trade resumes on Wednesday.

Company Performance

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