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Indices down marginally

DUBAI - Leading UAE stock market indices were down marginally as the some of the banking and service sector counters reported lacklustre trading on both the Dubai Financial Market (DFM ) and the Abu Dhabi Stock Market (ADSM) yesterday. All the underlying sub-indices of both the NBAD Index and the UAE General Index were marginally down.

In 64 deals across eight counters, the DFM traded more than 700,000 shares valued at Dh18.3 million. While more than 63 per cent of the volumes were reported in banking sector, the remaining were shared by the real estate counters. In the banking sector, the National Bank of Dubai traded a fairly large volume of close to 97,000 shares in nine deals contributing more than Dh12.4 million to the day's market turnover. The scrip closed Dh1.35 up at Dh128.35. The Commercial Bank of Dubai counter reported a modest volume of 10,000 shares from three deals. The share was up by Dh1.20 to close at Dh95. The Dubai Islamic Bank share was under pressure during yesterday's session with the scrip taking a beating to the extent of 45 fils. It closed at Dh48.95 trading a small volume of 1,000 shares. The Dubai Investment Company was down by 10 fils to close at Dh13.05.

In the services sector, leading property scrip Emaar was down by 15 fils to close at Dh26.05. The counter traded over 52,000 shares worth Dh1.3 million. While the district airconditioning firm Tabreed gained 15 fils to close at Dh13.40, Union Properties was up by 20 fils at Dh23. The UPP counter traded 70,000 shares in three deals.

Across all leading sectors, ADSM reported modest volumes yesterday. In the banking sector, the National Bank of Abu Dhabi scrip was down by 2.6 per cent (Dh3) closing at Dh112. While the Abu Dhabi Commercial Bank closed without any change from the previous closing price, the Abu Dhabi Islamic Bank share closed five fils up at Dh23.95. In the Insurance sector, Al Khazna was down by Dh2 to close at Dh173. In the service sector while Etisalat closed without any change from the previous closing price at Dh149, the Q-tel share was down by 90 fils at Dh151.

The Over the Counter (OTC) market reported about Dh44 million out of the total market turnover of Dh83 million yesterday. The NBAD General Index reported a marginal loss of 2.17 points to close at 4612.03 points, while the Emirates Stock Market Index closed 2.35 points down at 1860.30 points.