Stocks stable last week

ABU DHABI At the level of prices and transactions, the local stock market was stable. Nevertheless, it has shown some progress at the beginning of the week compared to previous two weeks, which witnessed a continuous draw back.

By A Staff Reporter

Published: Sat 14 Aug 2004, 10:07 AM

Last updated: Thu 2 Apr 2015, 11:45 AM

But the progress was short-lived at the end of the week because of fears that had a grip over small investors which caused them to sell their shares, and also due to the absence of big time investors during August from th e market.

Investors have subscribed in the Arab Technical Constructions Company's (Arabtec) shares where 220 million shares were subscribed at Dh1 per share, and subscription were open to UAE nationals and companies at 100,000 minimum shares.

Al Waha Rental Company has during the week has achieved Dh4.7 million in net profits by 38.2 per cent growth compared to profits garnered at the same time of previous week. The volume of shares' transactions reached Dh411.4 million compared to Dh417 million by Dh5.6 million decrease recording a 1.3 per centage points compared to previous week.

Hence, the daily average of transactions reached Dh82.3 million compared to Dh69.5 million distributed among the Services Sector at 81.4 per cent; the Banking Sector at 18.1 per cent and the Insurance Sector at 0.5 per cent.

During the week 38 shares were transacted with Etisalat shares in the lead by 786.4 thousand shares at total of Dh135.2 million by 32.9 per centage points of total volume of transactions; Emmar shares came next by 17.6 million shares at the value of Dh100.6 million, followed in third place by Dubai national Share at 214,000 shares at total of Dh27.9 million; fourth place was taken by Shuaa at 5.1 million shares at total of Dh23.7 million; and Dubai Islamic Bank came fifth by 208.1 thousand shares at Dh16.3 million total.

Five companies have, during the week, achieved highest averages in volume of shares with White Cement leading by 3 per cent; AlItihad Real-estate Company by 2.6 per cent; Etisalat by 2 per cent; Abu Dhabi Commercial Company by 1.7 per cent ; and MashreqBank by 1.5 per cent. Dubai Financial market obtained during the week Dh208.4 million at 50.7 per cent average of total profits by Dh111.6 decrease at 34.9 per cent compared to previous week.