Market indices head south

DUBAI - Major market indices headed south yesterday mainly because of losses in Emaar and Etisalat. The cumulative market volumes also declined during the day.

By A Staff Reporter

Published: Wed 30 Apr 2003, 5:45 PM

Last updated: Wed 1 Apr 2015, 7:45 PM

There was trading on nine counters at the DFM. Tabreed declined 10 fils to Dh10.45 on 10 trades of 45,500 shares and Emaar also finished with losses of 10 fils at Dh22.60 on 11 trades of 25,175 shares.

Dubai National Insurance advanced 25 fils to Dh16.75, while Mashreqbank was up 40 fils to Dh73.50 and Dubai Islamic Bank rose 25 fils to Dh26.10. Commercial Bank of Dubai, Emirates Bank International, Dubai Investments and Shuaa remained unchanged on small to modest volumes.

The total DFM volume for the day was reported at 267,290 shares, which were valued at over Dh2.82 million.

On the ADSM, Etisalat declined Dh1.50 to Dh129.50 on a volume of 22,130 shares, which were valued at over Dh2.86 million. Al Waha dropped 28 fils to Dh5.62 and National Marine Dredging finished with losses of Dh24 at Dh676.

First Gulf Bank advanced six fils to Dh5.93 and Julffar rose five fils to Dh1.85, while Abu Dhabi Commercial Bank remained unchanged at Dh54.20 on a volume of 20,430 shares, which were valued at over Dh1.1 million.

The National Bank of Abu Dhabi Emirates Stock Markets Index (NBAD ESMI), which tracks the DFM and the ADSM listed shares, slipped 5.51 points to 1,448.69 as the NBAD ESMI service sector index fell 10.28 points to 1,107.39. The NBAD ESMI banking sector index advanced 2.3 points to 1,675.1 and the NBAD ESMI insurance sector index finished with gains of 0.76 points at 1,195.5. Emirates Financial Services (EFS) listed just one mover on the OTC market with Abu Dhabi Shipbuilding going down 30 fils to Dh25.25.

Emnex dropped 7.86 points to 2,372.6. The telecom sub-index declined 13.31 points to 1,215.51 and the property sub-index fell 2.83 points to 857.03. The financial services sub-index advanced 2.09 points to 2,703.64, while the Islamic sub-index rose 4.36 points to 1,036.75 and the insurance sub-index remained unchanged.

The NBAD market review listed just one mover on the OTC market with Asmak rising 30 fils to Dh5.80.

The NBAD general index was down 13.2 points to 3,619.68 as the NBAD service sector index fell 41.31 points to 4,223.62.

The NBAD banking sector index advanced 4.49 points to 3,767.38 and the NBAD insurance sector index was up 1.02 points to 2,716.28. EFS reported the market volume at 364,704 shares, which were valued at over Dh7.25 million.

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