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New proposals would raise the capital requirements for the largest and most important banks by 9%, down from 19%
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UAE shares report modest gains
DUBAI — Leading UAE stock indices posted modest gains yesterday with the national benchmark National Bank of Abu Dhabi closing 2.4 per cent up at 15,827 points as the Dubai Financial Market Index reported a modest gain of 0.56 per cent.
The services sector shares were the biggest gainers yesterday with the NBAD's services sector subindex gaining 849 points (4.4 per cent) as the banking sector subindex gained a modest 128 points.
The overall market turnover was up 43 per cent at Dh2.63 billion as the Dubai Financial Market traded 145 million shares worth Dh2.12 billion.
Key property sector shares such as Emaar and Union Properties gained 3.17 per cent and 1.3 per cent, respectively. While Arabtec and Al Mazaya were up 1.3 per cent each, National Real Estate, a newly listed stock, was down 7.24 per cent at Dh13.45.
In the banking sector, Commercial Bank of Dubai fell 90 fils to close at Dh13, while DIB and Emirates Bank gained 40 fils and 70 fils respectively.
On the ADSM, ADCB and Abu Dhabi Islamic Bank gained 3.5 per cent 2.3 per cent respectively as NBAD slipped 1.9 per cent. In the services sector, Etisalat gained 7.3 per cent to close at Dh29.90.
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