Dubai, Abu Dhabi bourses advance
DUBAI — Shares in both Dubai and Abu Dhabi markets yesterday increased 0.7 per cent to 4,549.40 points and 0.58 per cent to 3,705.32 points, respectively.
A Dubai-based real estate developer with a significant presence in 16 countries worldwide, Emaar Properties registered the highest value of total traded shares at Dh275.44 million, followed by Dubai Financial Market, or DFM Co. at Dh138.79 million. Emaar gained 1.25 per cent to Dh12.15 while DFM Co., the only publicly traded stock exchange in the region, increased 1.21 per cent to Dh3.34.
Dubai Islamic Insurance, a provider of Shariah-compliant insurance services including e-insurance, e-motor quote and e-travelling package, topped the Dubai Financial Market (DFM) General Index with a rise of 3.61 per cent to Dh27.20.
The other top gainers were National Cement Co., which rose 2.66 per cent to Dh11.55; Tabreed, which advanced 1.82 per cent to Dh2.79; and Aramex, which climbed 1.48 per cent to Dh2.74.
Bayan Investment, which provides various investment services on different fields in Kuwait and abroad, and Gulf General Investments (GGICO) were the only losers on the DFM. Bayan fell 8.75 per cent to Dh3.65 while GGICO, an investor in manufacturing industries and financial firms, among others, dropped 1.22 per cent to Dh8.08.
Union Insurance Co. topped the Abu Dhabi Securities Market (ADSM) Index with a jump of 9.25 per cent to Dh2.48. National Bank of Ras Al Khaimah climbed 7.14 per cent to Dh6.75, Abu Dhabi National FoodStuff Co. increased 6.31 per cent to Dh4.72, and Emirates Driving Co. advanced 5.1 per cent to Dh3.32.
Fujairah Building Industries led the losers with a slump of 3.38 per cent to Dh2, followed by Al Wathbah National Insurance Co. with a slide of 2.1 per cent to Dh4.21, and Sharjah Cement and Industrial Development Co. with a slump of 2.1 per cent to Dh4.26.