"Even though today's [Thursday] volume is better than Wednesday, it is still below average. The main reason is due to low trading on
He said that traders who need liquidity or cash have sold their shares on Wednesday in order to get the money on Sunday. Any settlement today will only happen on next Thursday. So, traders are not ready to build any "new positions" despite strong earnings results as it is the summer season.
The bank's shares have performed much better in
"Emirates NBD has surprised the market with its second-quarter results and it was a very strong number, which shows that the bank has cleaned up its balance sheet and the shares are expected to rise further," Yasin said.
Among the gainers, CBD rose by 10.17 per cent to Dh6.50, followed by Ascana by 7.89 per cent to Dh2.05 and Emirates NBD by 4.21 per cent to Dh9.9.
Active value leader
Hits telecom fell by 4.76 per cent to Dh0.600, followed by
Of the 34 companies traded, 12 rose, 19 fell and three remained steady.
About 404.32 million shares worth Dh927.38 million were traded.
DFM index is still the best performer after
"Only selective trading is expected in August and the rally is expected to happen only in the middle of September when traders are back after the summer holidays," Yasin said.
Of the 36 companies traded, 16 rose, 14 fell and six remained steady.
About 70.08 million shares worth Dh210.22 million were traded.
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