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DUBAI — Paced by Emaar Properties and Islamic Arab Insurance Co. (IAIC), the Dubai Financial Market (DFM) General Index yesterday rose 2.2 per cent to 4,505.08. Shares in the Abu Dhabi bourse dropped 0.43 per cent to 3,582.19.
Emaar, a Dubai-based leading real estate developer, gained 2.5 per cent to Dh12.45 while IAIC, a pioneering firm which provides insurance services according to Islamic rules, jumped 8 per cent to Dh3.59. The value of Emaar's total number of traded shares amounted to over Dh306 million while that of IAIC reached more than Dh277 million.
Besides IAIC, the other top gainers were Arabtec Holding, which rose 5.2 per cent to Dh5.66, followed by Union Properties with an increase of 5 per cent to Dh3.35, and Dubai Investments Co. with a gain of 4.3 per cent to Dh4.66.
Al Buhairah National Insurance Co. was at the bottom-rung of the Abu Dhabi Securities Market (ADSM) Index with a drop of 0.64 per cent to DhDh7.50.
National Bank of Abu Dhabi (NBAD) was also a big loser with a slump of 0.6 per cent to Dh22 while Al Wathbah National Insurance Co. dropped 0.5 per cent to Dh4.41.
QTEL ADSM (Qatar Telecommunication Co.) was the biggest winner with a jump of 15 per cent to Dh244.
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