Low activity as indices drop

DUBAI — UAE stock markets witnessed low activity with decline reported in most stock indices.

By A Staff Reporter

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Published: Mon 18 Apr 2005, 10:43 AM

Last updated: Thu 2 Apr 2015, 4:06 PM

The benchmark 38-stock NBAD General Index dropped 28 points or 0.20 per cent to close at 14,341 points. While the banking subindex added 23 points or 0.17 per cent to close at 14,055 points, the service sector subindex slid by 112 points or 0.60 per cent to close at 18,597 points. The insurance sector slumped by three points to finish at 6,182 points.

The NBAD ESM General Index shed eight points to finish at 5,932 while the Emnex slid by six points to finish at 9443 points.

With the exception of Dubai Islamic Bank scrip, Islamic stocks showed positive movements to drive up the sector by 1.61 per cent. The telecom sector remained unchanged as the financial service sector gained 0.29 per cent with Mashreqbank shares trading Dh5 up. The property sector slumped 1.36 per cent as both Emaar and Union Property shares traded at lower levels. In 4,108 transactions, the Dubai Financial Market traded more than 71 million shares, down from the previous day's 110 million shares to record transactions worth Dh1.008 billion. Major gainers across both bourses include Mashreqbank, Emirates International Bank, Sharjah Islamic Bank, Qatar Telecom, Sudatel and Shuaa. Losers include Abu Dhabi Commercial Bank (Dh3.50), Bank of Dubai (Dh2.35), National Corporation for Tourism (Dh16.70), National Marine DRG (Dh4.30), Al Ain Ahlia Insurance (Dh1).

On the ADSM, out of the 45 traded stocks, 25-showed decline and 17-posted gains while three remained unchanged.



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