Major stock indices advance as insurance and telecom segments gain

DUBAI - The market continued to witness lower activity yesterday, but major stock indices advanced due to gains on the insurance and telecom segments.

By A Staff Reporter

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Published: Mon 16 Feb 2004, 12:19 PM

Last updated: Thu 2 Apr 2015, 11:52 AM

At the DFM there was trading on nine counters with Shuaa leading the volumes with 57 trades of more than 2.35 million shares that were valued at over Dh7.6 million. The investment bank was up five fils to Dh3.24. Tabreed was up 15 fils to Dh13.70, while Union Properties was up 10 fils to Dh23.70, Emirates Bank International rose 25 fils to Dh27.70 and Dubai National Insurance closed with gains of Dh73.50 at Dh563.50.

Dubai Islamic bank declined 15 fils to Dh47.30 on 12 trades of 38,500 shares, which were valued at over Dh1.82 million and National Bank of Dubai fell five fils to Dh130.95, while Dubai Investments closed with losses of five fils at Dh13.35.

The total DFM volume for the day was reported at more than 2.61 million shares, which were valued at over Dh13.6 million. On the ADSM, among movers, Etisalat advanced 50 fils to Dh160 and Abu Dhabi Islamic bank rose five fils to Dh23.70, while Al Waha closed with losses of five fils at Dh8.30. The National Bank of Abu Dhabi Emirates Stock Markets Index (NBAD ESMI), which tracks the DFM and the ADSM listed shares, advanced 5.69 points to 1,954.13. The NBAD ESMI banking sector index rose 5.16 points to 2,330.45, while the NBAD ESMI service sector index was up 3.19 points to 1,437.18 and the NBAD ESMI insurance sector index finished with gains of 34.36 points at 1,761.86.

EFS reported no movers on the OTC market, while Emnex advanced 5.78 points to 3,132.95.

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