Dubai and Abu Dhabi stock market decline

DUBAI — Continuing their downturn mood from most of last week, the Dubai Financial Market (DFM) General Index and the Abu Dhabi Securities Market (ADSM) Index opened weekly trading yesterday with a slump of almost one per cent each.

By A Staff Reporter (UAE STOCK MARKET)

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Published: Mon 23 Jul 2007, 9:04 AM

Last updated: Sat 4 Apr 2015, 10:21 PM

Registering big losses in the materials, transportation and utilities indices, the DFM dropped 28.77, or 0.66 per cent, to 4,328.42 points. The ADSM, whose health care and consumer indices were the hardest hit, slipped 20.25, or 0.56 per cent, to 3,585.25 points.

With its volume of traded shares valued at Dh364.84 million, the DFM only had two gainers — Al Mazaya Holding Co., which jumped 9.54 per cent to Dh7, and Arab Insurance Group, which rose 1.63 per cent to Dh3.10.

Dubai Islamic Insurance, whose volume of traded shares was 275,314, led the losers with a fall of 5.11 per cent to Dh25.05. The other big losers were National Cement Co., which declined 4.54 per cent to Dh10.50; Gulf Navigation Holding, which slipped 3.05 per cent to Dh1.27; newly listed AirArabia, which slumped 2.72 per cent to Dh1.07; and Amlak Finance, which slid 2 per cent to Dh3.40.

Fujairah Building Industries fell 10 per cent to Dh1.80, trailing all listed companies on the ADSM. Abu Dhabi National Insurance Co., a provider of fire, accident, marine and aviation insurance, dropped 7.67 per cent to Dh8.31 while Foodco Holding declined 7.54 per cent to Dh4.17, and Al Buhaira National Insurance Co. decreased 6.13 per cent to Dh7.50.

Sharjah Insurance Co. led ADSM with a gain of 10 per cent to Dh5.50, followed by Union Insurance Co. with a rise of 4.63 per cent to Dh2.26, and Abu Dhabi National Takaful Co. with an increase of 1.64 per cent to Dh5.59.

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