Bank shares report big gains

DUBAI - Bank shares were in big demand yesterday with some of the Abu Dhabi listed banks posting big gains. The key market indices reported modest gains.

By A Staff Reporter

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Published: Wed 29 Dec 2004, 10:56 AM

Last updated: Thu 2 Apr 2015, 11:49 AM

The market benchmark NBAD General Index gained 50 points to close at 8284 points. While the banking sector subindex gained 50 points, services sector subindex slipped marginally by 3 points.

The UAE bourses traded more than 43 million shares worth Dh679 million. In 1289 trades, the Dubai Financial Market traded more than 28 million shares worth Dh298 million. The service sector volumes were significantly down at 25 million shares with Emaar counter trading 14.3 million shares.

While the Emaar scrip closed intact, Union Properties — another leading property share — slipped 20 fils to close at Dh61.80. The district airconditioning company Tabreed closed 25 fils down at Dh33.40 while Amlak closed marginally up at Dh3.74.

On DFM the banking sector shares reported modest gains with Commercial Bank of Dubai and National Bank of Dubai gaining Dh1.95 and Dh1 each.

While Dubai Islamic Bank closed 35 fils up at Dh91.50, the Mashreq scrip closed 40 fils up at Dh150.

The Abu Dhabi bourse reported big gains on most of the banking sector counters. The National Bank of Abu Dhabi scrip gained Dh3 yesterday to close at Dh202.20 while the Abu Dhabi Commercial Bank closed Dh6.10 up at Dh129.80. The Union National Bank and Abu Dhabi Islamic Bank gained Dh2.30 and Dh1.15 each.

In the service sector, Etisalat slipped 20 fils to close at Dh222.80 while Qtel moved up by Dh2 to close at Dh235. The EMNEX closed 31points up at 5412 points and the NBAD ESM Index closed 21 points up at 3386 points.

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