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UAE Financial Market News

23 November 2010. UAE stocks mostly fell although the Abu Dhabi index closed marginally in the green due to small gains for Etisalat and NBAD. On the Nasdaq Dubai, DP World fell 0.50%, and Depa was unchanged.

Dubai Financial Market

Dubai stocks fell 1.2% to 1691 points from trading worth AED 155m with Emaar Properties (EMAAR) the most active stock, down 1.9% to 3.69 from AED 49m. HITS Telecom was the worst loser, down 4.1% to 1.16, Dubai Refreshments (DRC) fell 3.0% from one small trade.

Arabtec (ARTC) and Dubai Financial Market (DFM) fell 2.6%, and the other losers were down less than 2% or on thin trading. There were only 3 gainers, and only Drake & Scull (DSI), up 1.5%, saw trading worth more than AED 1m.

Abu Dhabi Securities Exchange

Abu Dhabi stocks rose slightly, by 0.07% to 2756 points from trading worth AED 111m with Aldar Properties (ALDAR) the most active stock, down 2.6% to 2.26 from AED 34m. Union Cement (UCC) and Abu Dhabi National Insurance (ADNIC) closed 10% limit up on low volumes, Gulf Cement (GCEM) rose 9.1%, Commercial Bank International (CBI) rose 6.15% from one small trade, Abu Dhabi Commercial Bank (ADCB) was up 1.3%, and the other gainers were up less than 1% including Emirates Telecom (ETISALAT) and National Bank of Abu Dhabi (NBAD).

National Bank of Umm Al Quwain (NBQ) fell 9.3% from one small trade, Ras Al Khaimah Ceramics (RAKCEC) fell 7.0%, Methaq Islamic Insurance (METHAQ) was down 3.5%, Arkan Building Materials (ARKAN) 3.0%, National Bank Of Ras Al Khaimah (RAKBANK) 2.2%, Ras Al Khaimah Properties (RAKPROP) 2.1%, and the other losers fell less than 2% or on thin trading.

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