Stock indices surge as trading volume drops

DUBAI - UAE's stock indices showed a resurgence with all sectors posting gains on a day of thin trading. Volumes continued to drop from Dh292 million on Tuesday to Dh218.6 million with total transactions limited to 14.3 million shares.

By A Staff Reporter

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Published: Thu 3 Feb 2005, 9:41 AM

Last updated: Thu 2 Apr 2015, 4:23 PM

While the benchmark NBAD General Index rose 39.93 points or 0.45 per cent to close at 8,945 points, the NBAD ESM General Index followed suit with a gain to 18.51 points or 0.51 per cent to finish at 3,682. Emnex surged 26.10 points or 0.45 per cent to close 5,809.

Yesterday's rally was led by the banking sector with the index posting a gain of 61 points to finish at 9505 points. The insurance sector subindex rose 48 points to close at 5,291 points as the services sector index gained 16 points to reach 10,368 points.

In the Islamic sector while Abu Dhabi Islamic Bank scrips traded higher by Dh2.2, Dubai Islamic Bank slipped 10 fils.. The gains in the insurance sector were driven by Emirates Insurance which traded Dh10 up. With most bank scrips performing well on the bourses, the financial service sector looked up.

With Emaar share price remaining unchanged, the counter witnessed low activity with 4.5 million share transacted. Union Property shares traded higher by 25 fils.

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