UAE stocks end mixed

Tuesday, Nov 05, 2013

Dubai: UAE stocks had a mixed day on Tuesday with the capital’s benchmark ending the day in positive territory and Dubai declining for the second straight day amid continuing lower volumes.

The Dubai Financial Market General Index closed 0.31 per cent lower at 2902.62. The total number of shares exchanging hands were 252.68 million, which were worth Dh379.15 million, a drop of 35.79 per cent from the previous session.

Of the 27 stocks traded, 18 declined, six gained and three remained unchanged.

In Abu Dhabi, the index advanced 0.21 per cent to 3853.49. The value traded remained more or less the same as on Monday, totalling 387.90 million on 206.16 million shares. Of the 30 stocks traded, 10 retreated, 11 remained flat and nine closed higher.

In Dubai, the region’s only listed bourse, Dubai Financial Market, which reported a positive third quarter net profit of Dh82.8 million after markets closed on Monday, declined 0.86 per cent to Dh2.30

Arabtec, which was the most active by value with a total turnover of Dh52.36 million, lost 0.37 per cent to Dh2.70. Real estate stocks Emaar Properties fell 0.33 per cent to Dh6.05; Union Properties dropped one per cent to Dh0.990 and Deyaar Development declined 1.49 per cent to Dh0.728.

In Abu Dhabi, Etisalat shares gained 0.43 per cent to Dh11.70 and Abu Dhabi Commercial Bank was up 0.40 per cent to Dh5. Bank of Sharjah was the biggest gainer, jumping 10.06 per cent to Dh1.75.

National Bank of Abu Dhabi fell 0.79 per cent to Dh12.50 and Aldar Properties remained unchanged at Dh2.69.

By Gaurav Ghose Financial Features Editor