Share prices show signs of rebound

DUBAI - UAE stocks showed signs of a rebound after several days of decline with all key indices edging up when the bourses reopened yesterday.

By A Staff Reporter

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Published: Sun 22 Aug 2004, 10:59 AM

Last updated: Thu 2 Apr 2015, 11:46 AM

The market benchmark NBAD General Index gained slightly by 3.95 points or 0.07 per cent to finish at 5,878.40, while the NBAD Emirates Stock Market Indices rose 1.45 points or 0.06 per cent to reach 2,399.46.

Emnex increased slightly by 0.06 per cent to close at 3965.58, up 2.32 points.

Yesterday's rebound was spurred by the banking sector, with the subindex gaining 8.38 points or 0.13 per cent to finish at 6,340.78. The service sector index fell 1.09 points or 0.02 per cent while the insurance sector remained without any change.

As Emnex daily stockline shows, amid low activity on the market, the property sector gained 0.52 per cent as Emaar traded four fils up, while Union Property traded 20 fils less. Islamic sector gained 0.47 per cent as both Islamic banks traded at higher levels. Financial service sector gained 0.07 per cent as Union National Bank traded Dh1 up, but the telecom sector dropped 0.22 per cent with Etisalat shedding 40 fils.

Trading volumes on the Dubai Financial Market took a plunge - compared to 210 deals and 2.5 million shares and a value of Dh20.15 million on Thursday, the market recorded just 125 deals of 1.4 million shares worth Dh8.49 million.

The services sector saw Emaar, Amlak and Shuaa Capital gaining while Tabreed and Union Properties skidding.

The banking sector saw Dubai Islamic Bank gaining 15 fils or 0.19 per cent to finish at Dh 78 on a day on thin trading.

Dubai Islamic Reinsurance lost 75 fils or 1.79 per cent while Gulf General Investment rose by 15 fils.

On the Abu Dhabi Stock Market, Union National Bank, Abu Dhabi Islamic Bank, First Gulf Bank, Bank of Sharjah and Dubai Islamic Bank recorded slight gains in the banking sector and Oasis International Leasing, National Marine Dredging, Emaar and Amlak rising in the service sector.

Etisalat lost further by 0.24 per cent to close at Dh166.10.

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