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Indices slip marginally

The market benchmark NBAD General Index closed 10.36 points down at 5013. The banking sector was down by 19 points yesterday, while the service and insurance indices closed more or less intact at the previous closing level.

Dubai Financial Market traded a relatively small volume of 5.6 million shares. In 368 trades the market grossed a turnover of 64 million, significantly down from the previous day. In the service sector, Emaar traded over one million shares worth Dh40.7 million. The scrip closed 35 fils up at Dh38.95. While Amlak counter reported over 2 million turnover, the share closed at Dh2.35 and the Tabreed closed five fils up at Dh14.05.

The banking sector reported thin volumes yesterday with Emirates Bank closing 25 fils down at Dh23. Other leading scrips including the Dubai Islamic Bank and National Bank of Dubai closed without any change, the total volume traded was just over 126,000 shares. In the investment sector, the Dubai Investment Company gained 25 fils to close at Dh14.10 while the Gulf General Investment Company lost 20 fils to close at Dh23.30.

On ADSM, all banking scrips with the exception of the National Bank of Abu Dhabi was headed down. The NBAD scrip closed intact at Dh126. While the Abu Dhabi Commercial Bank was down by 45 fils, the Union National Bank closed 80 fils down at Dh64.20. In the insurance sector, the Al Dhafra scrip was the lone mover. The share closed five fils down at Dh5.75 after trading a small volume.