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Market closes week on positive note
DUBAI - The UAE stock market closed the week on a positive note yesterday mostly because of over two per cent gain in Etisalat, although volumes in that counter remained very light with less than 1000 shares changing hands.
At the DFM there was trading on eight counters with Tabreed leading the volumes with 49 trades of 237,961 shares and rising 15 fils to Dh14.45. Shuaa was up one fil to Dh1.86, while Emaar rose five fils to Dh23.90 and Dubai Islamic Bank finished with gains of five fils at Dh30.90.
Commercial Bank of Dubai declined 95 fils to Dh89 and Emirates Bank International fell 35 fils to Dh21, while Union Properties finished with losses of 10 fils at Dh22.05.
The total DFM volume for the day was reported at more than 697,944 shares, which were valued at over Dh8.84 million.
On the ADSM Etisalat advanced Dh3 to Dh150 on a volume of 931 shares, while First Gulf Bank was up three fils to Dh8.47 and National Marine Dredging closed with gains of Dh4 at Dh1,060.
The National Bank of Abu Dhabi Emirates Stock Markets Index (NBAD ESMI), which tracks the DFM and the ADSM listed shares, advanced 9.2 points to 1,745.78. The NBAD ESMI service sector index rose 18.31 points to 1,296.55 and the NBAD ESMI insurance sector index was up 1.59 points to 1,445.78. The NBAD ESMI banking sector index declined 5.81 points to 2,076.63.
Emirates Financial Services (EFS) listed no OTC movers for the day. Emnex advanced 13.04 points to 2,824.64 as the telecom sub-index rose 26.62 points to 1,419.57. The insurance sub-index was up 1.53 points and the Islamic sub-index rose 4.36 points, while the financial services sub-index dropped 8.83 points.
EFS reported the cumulative market volume for the day at more than 1.03 million shares, which were valued at over Dh14.59 million.
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