25/06/2015 01:05 AST
Most of the volumes on Dubai Financial Market (DFM) was dominated by trading in Amlak Finance, even as the Dubai index ended half a per cent higher.
About Dh779 million worth of Amlak shares, which is not part of the index, were traded on the DFM, contributing to more than 79 per cent of the trading. The total volumes stood at Dh1.22 billion.
The DFM General Index ended at 4,164.48, up 0.48 per cent, a day after the government removed the ban on foreign ownership of etisalat.
“Moves on Dubai and Abu Dhabi indices were due to positive news from etisalat, but apart from that we are not expecting much. I’m not expecting much movements both ways,” Sebastien Henin, head of asset management at The National Investor, told Gulf News.
In other share movements, Dubai Parks and Resorts ended 1.68 per cent higher at Dh1.21, while Emaar Properties ended 0.12 per cent higher at Dh8.10.
Out of a total of 35 shares traded on the exchange, shares of 17 companies rose, while 11 of them fell.
The Abu Dhabi Securities Exchange General Index ended 1.39 per cent higher at 4,821.52. First Gulf Bank ended 0.33 per cent higher at Dh15.15, while Aldar Properties ended 0.72 per cent higher at Dh2.8. Eshraq Properties ended 1.28 per cent higher at Dh0.79.
Out of a total of 32 stocks traded on the exchange, shares of 14 firms rose, while shares of 8 companies fell.
Profit-taking
“We are expecting some profit-taking in Tadawul index,” Henin said.
On Wednesday, the Tadawul All Share index (Tasi) ended 0.36 per cent higher at 9,313.05. The Tadawul index has been the best regional market from performance point of view.
Alinma ended 0.04 per cent higher at 23.35 Saudi riyals, while Dar Al Arkan ended 0.22 per cent lower at Dh9.25. Saudi Basic Industries ended 1.53 per cent higher at 102.25 riyals.
Qatar Stock Exchange index ended 0.59 per cent higher at 12,162.04.
“The Qatari markets would wait for some visibility on the World Cup issue we expect Doha stock exchange to be weak in coming weeks,” said Henin.
Petrochemical producer Industries Qatar climbed 1 per cent on the back of a rise in global oil prices. The most heavily traded stock, Ezdan Holding, rose 0.9 per cent.
Muscat Securities MSM 30 index ended 0.03 per cent lower at 6,449.07.
Kuwait Stock Exchange index ended 0.05 per cent lower at 6,231.25.
Bahrain Bourse All Share Index ended 0.05 per cent higher at 1,364.34.
Gulf News
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