Special Features
UAE Financial Market News
15 March 2010. UAE stocks fell back today after the sudden jump yesterday, with Abu Dhabi stocks marginally down, and Dubai stocks mostly in the red. On the Nasdaq Dubai at 1515 UAE time, DP World is down 2.7%, Damas is down 4.5%, and Depa is up 3.1%.Dubai Financial Market
Dubai stocks fell 1.4% to 1723 points with turnover also down from yesterday, at AED 698m. Emaar Properties (EMAAR) was the most active stock, falling 3.2% to 3.63 from AED 309m worth of deals. Dubai Financial Market (DFM) was the only other company trading more than AED 100m worth, down 1.1% to 1.80.
Dar Takaful Insurance (DARTAKAFUL) was the worst loser, down 4.35% to 1.32 from thin trading, HITS Telecom fell 4.2%, National General Cooling (TABREED) 4.1%, and most other stocks fell between 1% and 4%. There were only two gainers, Emarat Takaful Insurance (TAKAFUL-EM) up 1.0%, and Arab Insurance Group (ARIG) up 4.1%, neither trading more than AED 1m worth.
Abu Dhabi Securities Exchange
The ADX fell 0.06% to 2866 points from AED 143m worth of trading, with Aldar Properties (ALDAR) the most active stock, down 1.0% to 3.98 from AED 36m worth of trades. Not far behind on turnover was the rarely traded National Bank of Umm Al Quwain (NBQ) with a single trade of 10m shares worth AED 31m, up 3.0% to 3.10. Top gainers were Abu Dhabi National Building Materials (BILDCO) (on low volumes), Methaq Islamic Insurance (METHAQ), and Arkan Building Materials (ARKAN), all with 10% limit up closing prices. The remaining gainers were up less than 1%, or on low volumes.
Bank of Sharjah (BOS) was the worst loser, 10% limit down to 1.82 on low volumes, followed by Ras Al Khaimah Properties (RAKPROP) down 1.85%, and Abu Dhabi National Energy (TAQA) down 1.6%. The other losers were down less than 1.5%. National Bank of Abu Dhabi (NBAD) was up 0.40%, and Emirates Telecom (ETISALAT) fell 0.40%.
