Low-key close to start week on UAE markets


20/03/2017 07:47 AST

UAE shares opened the week lower on Sunday as investors booked profits from gains made late on Thursday.

Trading began the week quietly with volumes nearly two-thirds below the daily average for the past six months.

The Dubai Financial Market General Index closed the day 0.8 per cent lower at 3,493.11, dragged down by Emaar Properties. The developer’s shares fell 2.7 per cent to Dh7.29, erasing gains made on Thursday.

Damac Properties and Dubai Islamic Bank were among the other big-name losers, with Emirates NBD the pick of seven gainers.

Gulf Navigation shares rose 2.1 per cent to Dh1.48, following the announcement of the appointment of its new chief financial officer.

Shares in GFH meanwhile closed 1.8 per cent lower at Dh2.69, after the Bahrain-based, Dubai-listed investment group announced the appointment of a new board including Shaikh Ahmed bin Khalifa Al Khalifa as chairman.

The Abu Dhabi Securities Exchange General Index traded higher at the open but trended lower to close a quiet day down 0.1 per cent at 4,419.38. FGB led stocks lower, closing 0.4 per cent lower at Dh12.60, as a handful of investors booked profits from the back end of last week. NBAD and Sharjah Islamic Bank led gainers, rising 1 per cent and 5.6 per cent, respectively.

In Saudi Arabia the Tadawul closed up 0.4 per cent, its fourth consecutive gain, with falls by Sabic and NCB offset by gains by Al Rajhi Bank.

The Qatar Exchange closed 0.2 per cent lower, the day before the 20 Qatari equities see a doubling of their investable weight factors by FTSE Russell, as the index provider upgrades the country to secondary emerging market status.

The National
Market News
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | News Archive
Most Viewed Companies
Ticker Price Volume
QNBK 143.8 312,074
SABIC 95.98 4,534,377
ALMARAI 73.08 135,963
STC 66.9 212,948
ORDS 103.8 74,035
MMG 12.55
RIBL 10.33 260,208
Recent News

UAE Pavilion boosts Emirati-German business ties
After five days, 250,000 visitors and 6,500 exhibitors, Hannover Messe draws to a close, as the UAE Pavilion reflects on yet another successful participation for a milestone tenth year.

Th

DLD records biggest land deal in Dubai
The Dubai Land Department (DLD) has recorded the biggest residential land sale in Dubai so far this year. The plot, measuring 120,000 square feet, has been sold by a businessman, Kamel Alzarka to

Zain Saudi Arabia, axiom form venture
ZAIN Saudi Arabia and axiom telecom announced the signing of a business partnership, allowing its customers to enjoy a one-stop visit to a wider range of the latest mobile products and services from

Ajman real estate sector draws huge appeal at Restatex
In line with its commitment to promote the competitiveness of Ajman›s real estate segment, the Department of Land and Real Estate Regulation in Ajman has concluded its successful participation at thi

SNC-Lavalin wins Aramco contract
SNC-Lavalin was awarded a contract by Saudi Aramco for engineering and project management services for the Berri Increment Program, the engineering company said Saturday in a statement. New facilitie

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?