Dubai, Abu Dhabi bourses advance

DUBAI — The UAE markets recovered slightly at the second day of weekly trading yesterday, with shares in Dubai gaining 12.97 points, or 0.31 per cent, to close at 4,175.93 and those in Abu Dhabi advancing 3.22 points, or 0.1 per cent, to 3,417.04.

By A Staff Reporter

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Published: Tue 18 Sep 2007, 9:21 AM

Last updated: Sat 4 Apr 2015, 11:41 PM

The Dubai Financial Market (DFM) General Index registered 164.2 million in total traded shares valued at Dh517.22 million. It had four gainers and two losers among its listed sectors while the rest were flat.

The gainers were led by the investment sector, which grew 0.62 per cent to 5,517.38, while the biggest loser was the insurance sector with a drop of 0.1 per cent to 4,074.44. Valued at Dh19,298, total shares at Grand Real Estate Projects Co. jumped 15 per cent to Dh4.40, putting the Kuwaiti firm on top of all the other DFM listed companies.

Deyaar Development, a property development, leasing and services company owned by Dubai Islamic Bank, was also a big gainer with an increase of 1.7 per cent to Dh1.82. The only publicly traded stock exchange in the region, DFM Co., advanced 1 per cent to Dh3.10. Aramex, a global total transportation services company, was the biggest loser with a drop of 0.4 per cent to Dh2.53 while Islamic Arab Insurance decreased 0.32 per cent to Dh3.10.

Al Buhaira National Insurance Co. and the UAE’s leading aquaculture company, International Fish Farming, topped the Abu Dhabi Securities Market (ADSM) Index with gains of 10 per cent each to Dh8.47 and Dh5.73 respectively.

The other big gainers were Union Insurance Co., which climbed 8.33 per cent to Dh1.95; Abu Dhabi National Insurance Co., which increased 5.6 per cent to Dh8.50; and National Marine Dredging Co., which advanced 4.74 per cent to Dh5.30. Investbank and Finance House lost over 4 per cent each to Dh3.06 and Dh6.71 respectively.

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