Indices surge on moderate trading

DUBAI — Trading activities at UAE bourses remained moderate with the total turnover across DFM and ADSM crossing Dh1 billion as all sectors except the insurance sector closed higher.

By A Staff Reporter

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Published: Wed 27 Jul 2005, 10:32 AM

Last updated: Thu 2 Apr 2015, 2:48 PM

The NBAD General Index, the 38-stock benchmark index of the UAE market, continued to show recovery by adding 697 points to finish at 14,611, a gain of five per cent.

Banking and service sector subindices reflected the upswing with the former gaining 289 points, while the latter adding 1,369 points or 7.41 per cent to finish at 19,847 points. The insurance sector dropped 64 points to close at 7,266.97 points.

The DFM General Index gained 42.66 points to close at 828.39. While the NBAD ESM General Index gained 307 points to reach 6,109, the Emnex added 299 points to close at 8395 points.

Across the two bourses, the market transacted shares worth over Dh1.064 billion. In 6,427 trades, the DFM traded 102.59 million shares valued at Dh1.049 billion. While 13 scrips advanced, one remained unchanged.

Major gainers include Emaar, the largest stock on the Dubai exchange by market value, gaining 80 fils or 4.6 per cent to close at Dh18.15, Union Property, up 76 fils to Dh6.92, Dubai Islamic Bank, up Dh21.75 to Dh171.70 AD Islamic Bank gaining Dh3.05. Etisalat stocks closed Dh2.90 higher or 10 per cent at Dh32.45 helping the telecom sector to close higher despite a drop of Dh7.10 posted by Qtel scrip. Overall, the financial services sector was active due to the big gains witnessed by the blue chip stocks. Amlak Finance, a lender in which Emaar has a 45 per cent stake, rose 11.3 per cent to Dh13.35.

Among banks, EBI scrips gained 75 fils to claose at Dh42.85 NBAD rose Dh2.20 to finish at Dh47.70. Major losers include ADCB shedding Dh3.30 to end at Dh202.40 and Commercial Bank International dropping 90 fils to end at Dh10.90.

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