Market posts Dh3.4b turnover amid rally

DUBAI — Hectic trading activities at UAE bourses kept the upward share momentum as turnover reached Dh3.4 billion. NBAD General Index, the 38-stock benchmark index of the UAE market, continued to scale new heights by adding 382 points to reach 15,685 points.

By A Staff Reporter

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Published: Mon 25 Apr 2005, 10:13 AM

Last updated: Thu 2 Apr 2015, 4:09 PM

All key market subindices showed the upswing yesterday with the banking sector subindex gaining 425 points, while the service and insurance subindices gained 438 points and 41 points, respectively.

While the NBAD ESM General Index gained 147 points to reach 6,503, the Emnex added 231 points to close at 10,128 points.

Across the two bourses, the market transacted more than 149 million shares worth over Dh3.4 billion. In 6,246 trades, the Dubai Financial Market traded 150 million shares worth Dh2.9 billion.

The property sector registered gains of 6.23 per cent as Emaar closed up by Dh1.65 by posting heavy trading activity exceeding Dh2 billion. The Emaar counter traded more than 93 million shares. The financial service sector closed up by 2.83 per cent with most bank shares faring well and much in demand. Driven by Etisalat share surge, the telecom sector gained 0.92 per cent.

Yesterday's major gainers included ADCB (Dh8), Commercial bank International (Dh0.65), National Bank of Abu Dhabi (Dh4.15), Al Khanza Insurance (Dh10.90), Dubai National Insurance (Dh1.75), and Abu Dhabi Islamic bank (Dh3.20). Major losers included Oman Insurance (Dh7.45), Qatar Telecom (Dh11.10), and GGICO (Dh0.65).

On ADSM, of the 50 traded stocks, 31 advanced, 16 dipped and three remained unchanged.

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