Dubai, Abu Dhabi equities post gain
UAE stocks increased yesterday, with the Dubai bourse gaining 27.76 points or 0.5 per cent to close at 6,109.69 and Abu Dhabi's general benchmark jumping two per cent at 4,807.52 points.
Posting shares value of Dh445.7 million, Amlak Finance paced the Dubai Financial Market (DFM) General Index. Amlak, UAE's largest mortgage-finance provider by market value, rose 1.6 per cent to Dh5.60.
Surging 45 per cent since September 30, DFM yesterday registered shares of 467.7 million valued at Dh2.4 billion. It saw 11,532 trades from 12 companies that advanced, 11 that declined and three that remained unchanged.
Arabian Scandinavian Insurance topped DFM with a jump of 4.6 per cent from Dh2.17 to Dh2.27 followed by Mashreq Bank, which grew four per cent to Dh320 and Kuwait's Global Investment House with a climb of 3.7 per cent to Dh14.
Dubai Refreshments Co was the biggest loser with a fall of 4.8 per cent from Dh15.75 to Dh15. National Cement Co and Islamic Arab Insurance were also big losers at 2.7 per cent to Dh10.70 and 2.4 per cent to Dh4.09 respectively.
The country's second telecoms firm du, officially known as Emirates Integrated Telecommunications Co, slumped 1.3 per cent from Dh7.07 to Dh6.96. The healthcare sector jumped 3.9 per cent to close at 1,782.12, leading all other sub-indices on the Abu Dhabi Securities Market (ADSM) Index while the industrial sector slipped two per cent at 2,767.40 points.
Gulf Medical Projects Co and Union Insurance Co led the gainers with a jump of 10 per cent each to Dh6.38 and Dh3.20 respectively followed by Sharjah Islamic Bank, which increased 9.3 per cent to Dh4.49.
Posting shares value of Dh445.7 million, Amlak Finance paced the Dubai Financial Market (DFM) General Index. Amlak, UAE's largest mortgage-finance provider by market value, rose 1.6 per cent to Dh5.60.
Surging 45 per cent since September 30, DFM yesterday registered shares of 467.7 million valued at Dh2.4 billion. It saw 11,532 trades from 12 companies that advanced, 11 that declined and three that remained unchanged.
Arabian Scandinavian Insurance topped DFM with a jump of 4.6 per cent from Dh2.17 to Dh2.27 followed by Mashreq Bank, which grew four per cent to Dh320 and Kuwait's Global Investment House with a climb of 3.7 per cent to Dh14.
Dubai Refreshments Co was the biggest loser with a fall of 4.8 per cent from Dh15.75 to Dh15. National Cement Co and Islamic Arab Insurance were also big losers at 2.7 per cent to Dh10.70 and 2.4 per cent to Dh4.09 respectively.
The country's second telecoms firm du, officially known as Emirates Integrated Telecommunications Co, slumped 1.3 per cent from Dh7.07 to Dh6.96. The healthcare sector jumped 3.9 per cent to close at 1,782.12, leading all other sub-indices on the Abu Dhabi Securities Market (ADSM) Index while the industrial sector slipped two per cent at 2,767.40 points.
Gulf Medical Projects Co and Union Insurance Co led the gainers with a jump of 10 per cent each to Dh6.38 and Dh3.20 respectively followed by Sharjah Islamic Bank, which increased 9.3 per cent to Dh4.49.
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