News Column

Abu Dhabi index snaps six-day winning streak

January 22, 2014

Naushad K Cherrayil Staff Reporter

Dubai : UAE indices traded in opposite directions on Wednesday with Dubai making a comeback. The Insurance sector lifted the DFM index up by 0.60 points to 3687.32 points, but both volume and value remained lower. Among the gainers, GGICO rose for the third day by 14.84 per cent to Dh1.47, followed by Salama by 14.42 per cent to Dh1.19 and Aman by 14.29 per cent to Dh1.52. Gulf Finance House , the active volume leader, fell for the second day by 0.83 per cent while bellwether Emaar Properties fell by 0.63 per cent. International Financial Advisors fell by 6.40 per cent to Dh1.17, followed by Al Madina by 4.07 per cent to Dh0.755 and Drake & Skull by 3.21 per cent to Dh1.51. Top banks are expected to reveal their fourth-quarter earnings next week. Of the 31 companies traded, 16 rose, 14 fell and one remained steady. About 1.33 billion shares worth Dh2.05 billion were traded. In Abu Dhabi , the index ADX fell for the first time in six days by 0.06 per cent to 4578.19 points. Among the gainers, Abu Dhabi Ship Building rose by 15 per cent to Dh3.45, followed by Invest Bank by 9.68 per cent to Dh3.40 and Asmak by 6.25 per cent to Dh11.90. Gulf Medical Projects suffered the worst by falling 9.43 per cent to Dh2.40, followed by Watania by 5.33 per cent to Dh1.60 and Commercial Bank International by 4.65 per cent to Dh2.05. Of the 43 companies traded, 17 rose, 20 declined and six closed unchanged. About 397.51 million shares worth Dh881.47 billion were traded. Aldar was the active value leader while Dana was the active volume leader.

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Source: Gulf News (United Arab Emirates)

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