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UAE indices head south
DUBAI — The UAE stock indices closed lower yesterday as leading banking and property sector shares reported significant losses. The UAE market benchmark, National Bank of Abu Dhabi Index slipped by 59 points while the Dubai Financial Market Index closed 1.3 per cent (16 points) down at 1146 points.
On Dubai Financial Market, key banking and service sector shares including Emirates Bank, Dubai Islamic Bank, Emaar, Amlak and Shuaa were headed south. On the Abu Dhabi Stock Market, the banking sector shares reported modest gains. Reflecting the sectorial gains, the NBAD banking sector subindex gained 140 points while the service and insurance subindices slipped 360 and 19 points, respectively.
Across the two bourses the turnover improved marginally by 8 per cent to Dh1.5 billion. DFM traded over 100m shares worth over Dh1.28b. Emaar and Amlak slipped 2.7 per cent and 3.5 per cent.
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