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Major market indices gain

DUBAI - Major market indices continued to climb yesterday as the rally was supported by strong gains from Union Properties and a number of shares on the financial services segment.

At the DFM there was trading on 10 counters with Shuaa leading the volumes and rising five fils to Dh3 on 84 trades of more than 5.39 million shares, which were valued at over Dh16.18 million. Union Properties was up Dh1.80 to Dh23.85 on 57 trades of 340,517 shares, which were valued at over Dh8.12 million, while Emirates Bank International rose 45 fils to Dh22.15 on 18 trades of 418,000 shares that were valued at over Dh9.25 million and Mashreqbank finished with gains of Dh2.35 at Dh122.35 on six trades of 11,720 shares that were valued at over Dh1.43 million.

Losers included Dubai Islamic Bank, which was down 10 fils to Dh49.40 and Dubai Investments that closed with losses of 15 fils at Dh13.10. Emaar was also down five fils to Dh26.35 on 19 trades of 128,500 shares, which were valued at over Dh3.38 million.

The total DFM volume for the day was reported at more than 6.6 million shares, which were valued at over Dh43.69 million.

On the ADSM, First Gulf Bank slipped five fils to Dh8.53, while Etisalat dropped 50 fils to Dh150 and Abu Dhabi Shipbuilding closed with losses of 65 fils at Dh31.35. Gainers included Union National Bank, which rose 10 fils to Dh64.10. and Al Ain Al Ahlia Insurance that advanced Dh4.50 to Dh143 on a volume of 15,140 shares. The National Bank of Abu Dhabi Emirates Stock Markets Index (NBAD ESMI), which tracks the DFM and the ADSM listed shares, advanced 3.97 points to 1,860.23 as the NBAD ESMI banking sector index rose 11.53 points and the NBAD ESMI insurance sector index was up 11.57 points to 1,599.1. The NBAD ESMI service sector index closed with losses of 2.14 points at 1,370.14. Emirates Financial Services listed no movers on the OTC market, while Emnex was up 6.69 points to 2,986.31. The financial services sub-index rose 16.41 points to 3,545.14 and the property sub-index rose 10.87 points to 983.11. The telecom sub-index declined 4.44 points to 1,419.57.