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UAE Financial Market News

03 November 2010. UAE stocks mostly fell although HITS Telecom stood out with a moderate gain on unusually high turnover. On the Nasdaq Dubai, DP World rose 0.51%, Depa rose 1.4%, and Damas was unchanged.

Dubai Financial Market

Dubai stocks fell 0.41% to 1735 points from trading worth AED 178m with Emaar Properties (EMAAR) the most active stock, down 0.53% to 3.73 from AED 33.0m. HITS Telecom traded almost as much, up 2.5% to 1.21 from AED 32.8m. The worst losers were Emarat Takaful Insurance (TAKAFUL-EM) and Gulf General Investment (GGICO), both 5% limit down with no buyers in the queue.

Ektitab Holding (EKTTITAB) fell 2.7%, Union Properties (UPP) 2.3%, and the other losers were down less than 2%. Dar Takaful Insurance (DARTAKAFUL) was the best of the more active gainers, up 2.75% to 1.12, and the other gainers were up less than 1% or on thin trading.

Abu Dhabi Securities Exchange

Abu Dhabi stocks fell marginally by 0.07% to 2762 points from trading worth AED 208m with Aldar Properties (ALDAR) the most active stock, down 1.2% to 2.37 from AED 59m. Four stocks closed 10% limit down with no buyers in the queue - Fujairah Building Industries (FBICO) from limited turnover, Green Crescent Insurance (GCIC), Methaq Islamic Insurance (METHAQ), and Arkan Building Materials (ARKAN).

Ras Al Khaimah Cement (RAKCC) fell 2.2%, Ras Al Khaimah Properties (RAKPROP) 2.0%, and the other 5 losers fell less than 2%. Only 2 gainers saw trading worth more than AED 1m - Sorouh Real Estate (SOROUH) up 0.59%, and National Bank of Abu Dhabi (NBAD) up 0.42%. Emirates Telecom (ETISALAT) closed unchanged at 11.00.

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