• Home
• /
• Business

UAE markets close lower

Registering a total number of traded shares at 146.66 million, the Dubai Financial Market (DFM) General Index did not have a single gainer in all the listed sectors. The materials sector had the biggest fall at 1.96 per cent to 316.72 while the common staples sector was flat.

AirArabia, the low-cost airline based in Sharjah, continued to pace DFM with its volume of traded shares amounting to 58.26 million. Its shares dropped 2.32 per cent to Dh1.26.

Amlak Finance, the largest publicly listed Islamic home financing company in the UAE, declined 2.98 per cent to Dh3.25 while the only publicly traded stock exchange in the region, DFM Co., slumped 2.63 per cent to Dh2.96.

There were only three gainers — Commercial Bank of Dubai, which climbed 1.2 per cent to Dh8.50; Oman Insurance Co., which rose 0.64 per cent to Dh7.75; and Shuaa Capital, the region's leading investment banking institution, advanced 0.2 per cent to Dh5.

Abu Dhabi National Takaful Co. was the hardest hit among the 20 losers on the Abu Dhabi Securities Market (ADSM) Index with a fall of 7.75 per cent to Dh5.

The other big losers were Abu Dhabi National Insurance Co., which slipped 7.31 per cent to Dh8.11; Finance House, a leading provider of retail and commercial financing in the UAE, which declined 5.1 per cent to Dh7.12; and Sharjah Cement and Industrial Development Co., which slumped 2.41 per cent to Dh4.45.

Oman & Emirates Investment Holding Co. jumped 10 per cent to Dh20.45, followed by International Fish Farming, which increased 9 per cent to Dh5.07, and National Bank of Ras Al Khaimah with a rise of 8 per cent to Dh7.34.