Dubai:
Traded value recovered on Thursday even as the Dubai index edged higher.
Traded value came in at Dh238 million on Thursday compared to Dh130 million in the previous few sessions. The Dubai Financial Market General index closed 0.29 per cent higher at 2,840.16.
Ajman Bank closed 2.49 per cent higher to Dh0.948. Emaar Properties closed 0.40 per cent higher at Dh5.01.
In other stocks, Dubai Islamic Bank closed 0.12 per cent higher at Dh5.12.
Air Arabia closed 1.94 per cent higher at Dh1.01. Emirates NBD closed 0.53 per cent higher at Dh9.45. DP World closed 0.47 per cent lower at $21.40.
Emaar Properties and Arabtec suffered losses in the previous session.
“The real estate sector was the main reason behind this decline. Emaar and Arabtec both displayed significant losses that pulled the index down. The banking sector however held the index tightly through the sole efforts of Emirates NBD which recovered from losses occurring from the Turkish Lira plunge,” Essam Kassabieh, senior analyst with Menacorp said.
The Abu Dhabi Securities Exchange general index closed 0.48 per cent higher to 4,986.88.
“The focus is expected to shift towards the energy sector in the coming month as elevated activity is anticipated to occur on oil prices,” Kassabieh said.
First Abu Dhabi Bank closed 0.1 per cent higher to Dh14.8. Etisalat closed 0.1 per cent higher at Dh16.95. Abu Dhabi Commercial Bank closed 0.03 per cent higher at Dh1.93.
Elsewhere in the Gulf, Saudi Arabia’s Tadawul index closed 0.88 per cent lower at 7,948.25, after trading above the 8,000-mark in the past two sessions. Most of the pain came due to a decline in energy stocks.
Saudi Basic Industries Corp. ended 1.1 per cent lower at 126 Saudi riyals.
Alinma Bank closed 0.73 per cent lower at 21.70 riyals. The Muscat MSM 30 index closed 0.27 per cent lower at 4,419.27. The Qatar exchange index closed 0.23 per cent lower at 9,835.55.
