Brisk trading on property and banking counters

DUBAI - The UAE stock market reported brisk trading on property and banking sector counters yeasterday with significant increase in volumes and turnover on both Abu Dhabi Stock Market and Dubai Financial Market.

By A Staff Reporter

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Published: Thu 16 Dec 2004, 11:10 AM

Last updated: Thu 2 Apr 2015, 11:48 AM

The benchmark index, National Bank of Abu Dhabi General Index, gained 79.4 points to close at Dh8119.48. The banking and service sector subindices gained 123 points and 39 points respectively. Across the two bourses the market traded more than 94 million shares worth Dh1.19 billion. The Dubai Financial Market traded 82 million shares with the market turnover exceeding Dh918.8 million.

The property major Emaar touched a new high yesterday closing 25 fils up at Dh11.85. Tabreed traded 2.8 million shares and closed Dh2 up at Dh33.90. While Shuaa and Amlak reported modest gains, the Union Properties share price tumbled by Dh1.05 to closed at Dh64.65.

The banking counters continued to surge ahead with Commercial Bank of Dubai and Dubai Islamic Bank shares gaining Dh4.90 and Dh3.60 each. While the Emirates Bank and Mashreqbank shares slipped by 30 fils and 35 fils respectively, National Bank of Dubai gained more than 3 per cent to close at Dh146.50. In the investment sector, the Gulf General Investment Company closed Dh2.65 down at Dh41.90.

On the Abu Dhabi bourse, bank shares reported mixed results with the National Bank of Abu Dhabi share closing 10 fils up at Dh195.20. The Union National Bank gained Dh9 while the Abu Dhabi Islamic Bank closed Dh2.85 up at Dh38.25. In the insurances sector, the Abu Dhabi National Insurance scrip closed Dh1 up at Dh136.

In the service sector, Telecom major Etisalat slipped by Dh1.30 and closed at Dh224.50.

The EMNEX closed 46points up at 5323 points and the NBAD ESM Index gained 32 points to close at 3324.6 points.

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