UAE stocks' trading value dropped by 45% to Dh14.5b in a week
The value of trades on UAE stock markets dropped last week by 45 per cent to Dh14.5 billion.
Despite the better than expected results posted by some of the leading shares, especially in the banking sector, investors experienced a bumpy ride, as the high volatility, due to conflicting international and domestic economic conditions, was the norm throughout the week.
Market indices ended the week flat, moving within tight margins.
Dubai's benchmark market index advanced 0.24 per cent to 5,615.95, and Abu Dhabi's general index retreated 0.26 per cent to 4,569.40.
Nevertheless, the Dubai Financial Market's shares defied the stagnant conditions, surging 10.5 per cent to Dh5.78, adding Dh4.4 billion to its market value.
The telecommunication sector was also among the gainers on account of Etisalat's 1.3 per cent worth of gains.
Etisalat ended the week at Dh23.60, increasing its market capitalisation by Dh1.5 billion, compared to an extremely volatile performance for du, which ended the week 0.5 per cent down at Dh5.58.
The real estate sector was the worst hit, on account of Emaar Properties plunge of 7.7 per cent to Dh12.00, wiping Dh6.1 billion in market capitalisation.
Aldar Properties' 3.1 per cent worth of gains were not sufficient to lift up the sector's sub-index which dropped 3.5 per cent.
Strong fundamentals
Market analysts agree that the fundamentals still favour a bullish market, regardless of the interruption due to external factors.
"Lower interest rates and excellent corporate performance for 2007 will eventually strike the chord and get the market back on track," cited an Emirates Securities weekly report.
Despite the better than expected results posted by some of the leading shares, especially in the banking sector, investors experienced a bumpy ride, as the high volatility, due to conflicting international and domestic economic conditions, was the norm throughout the week.
Market indices ended the week flat, moving within tight margins.
Dubai's benchmark market index advanced 0.24 per cent to 5,615.95, and Abu Dhabi's general index retreated 0.26 per cent to 4,569.40.
Nevertheless, the Dubai Financial Market's shares defied the stagnant conditions, surging 10.5 per cent to Dh5.78, adding Dh4.4 billion to its market value.
The telecommunication sector was also among the gainers on account of Etisalat's 1.3 per cent worth of gains.
Etisalat ended the week at Dh23.60, increasing its market capitalisation by Dh1.5 billion, compared to an extremely volatile performance for du, which ended the week 0.5 per cent down at Dh5.58.
The real estate sector was the worst hit, on account of Emaar Properties plunge of 7.7 per cent to Dh12.00, wiping Dh6.1 billion in market capitalisation.
Aldar Properties' 3.1 per cent worth of gains were not sufficient to lift up the sector's sub-index which dropped 3.5 per cent.
Strong fundamentals
Market analysts agree that the fundamentals still favour a bullish market, regardless of the interruption due to external factors.
"Lower interest rates and excellent corporate performance for 2007 will eventually strike the chord and get the market back on track," cited an Emirates Securities weekly report.
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