Major indices end marginally lower

DUBAI - THE UAE stock market reported marginal losses yesterday with leading indices closing lower. While the service sector witnessed heavy selling pressure, a few banking scrips reported small gains.

By A Staff Reporter

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Published: Tue 7 Dec 2004, 12:34 PM

Last updated: Thu 2 Apr 2015, 11:46 AM

The market benchmark NBAD General Index slipped 10 points to 7296.88 points. The banking sector subindex gained 24 points while the service sector slipped by 62 points.

The overall market volumes were down by 33 per cent yesterday at 26.3 million shares. The Dubai Financial Market traded 18 million shares worth Dh23.7 million. The volumes on Emaar counter was significantly lower at 8 million shares, while the share slipped by 15 fils. The Union Properties closed intact —trading a modest volume and the Tabreed share closed marginally up by 10 fils at Dh24.80.

In the banking sector, Commercial Bank of Dubai and the Emirates Bank Shares gained Dh1.20 and 55 fils respectively while the Dubai Islamic Bank scrip closed Dh1.65 lower at Dh82.80. In the insurance sector, the Dubai Islamic Insurance nad Reinsurance Company and the Dubai National Insurance traded small volumes without any change in their share prices. On Abu Dhabi Stock Market, most banking counters witnessed selling pressure. The National Bank of Abu Dhabi closed Dh1.30 down at Dh186 and the Abu Dhabi Islamic Bank share slipped 30 fils lower at Dh34.70. The Union National Bank and Abu Dhabi Commercial Bank shares reported marginal gains of 30 fils and 40 fils respectively. In the insurance sector, the Al Khazna share gained Dh3.40.

In the service sector, Etisalat counter witnessed a minor correction and closed Dh1,80 lower at Dh206.40.

The EMNEX closed 6 points up at 4812.75 and the NBAD ESM Index gained 3.23 points to close at 2975 points.

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