GulfBase Live Support
Leave a message and our representative will contact you soon
05/05/2015 00:47 AST
UAE markets declined yesterday as investors sold shares amid concerns of weakness persisting in the upcoming days.
The Dubai Financial Market General Index fell 1.1 per cent to close at 4,084.35 points. Gainers for the index came from retailers such as Marka and Emaar Malls, while Dubai Parks & Resorts dropped 5.7 per cent.
Sanyalaksna Manibhandu, the chief equities analyst at National Bank of Abu Dhabi, said that the changes reflected profit- taking and testing the support level.
He said that investors realised how “cheap” the DFM was, resulting in large buys in mid-March.
However, after major first-quarter earnings were released, those investors decided to sell shares while still receiving a profit. “They’re worried that there will be some weakness in the immediate days ahead,”Mr Manibhandu said.
The capital’s Abu Dhabi Securities Exchange General Index dropped 1.4 per cent to 4,553.61, with the National Corporation for Tourism and Hotels the largest gainer, coinciding with the opening of the Arabian Travel Market. Eshraq Properties fell 0.90 per cent.
“Whether or not the markets go higher on fundamentals really depends now on second-quarter numbers that will be released in July,” said Mr Manibhandu.
Times of Oman
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
ADX 4,608.97
23.76 (0.52
DFM 3,091.15
-2,870.62 (-48.15
Ticker | Price | Change |
---|---|---|
EMIRATESNBD | 10.65 | 0.05 (0.47 |
EIB | 9.50 | 0.00 (0.00 |
EMAAR | 5.61 | -0.03 (-0.54 |
EMAARMALLS | 2.16 | 0.00 (0.00 |
DIB | 5.30 | 0.00 (0.00 |
05/04/2018
Foreign investors bought $1.18 billion in Middle East and North African equities in March, especially Saudi ones amid the kingdom’s upgrade to emerging market status by FTSE Russell, according to a r
The National
05/04/2018
Buying activity in financials lifted the MSM30 Index to 4,794.61 points, up 0.41 per cent. The MSM Sharia Index closed at 676.52 points, down 0.08 per cent. Gulf Investment Services was the most acti
Times of Oman
05/04/2018
Traded value on the Dubai Financial Market tumbled on Wednesday as global stocks declined amid an intensifying US-China trade war. In Abu Dhabi, banking shares surged ahead of first quarter results s
Gulf News
04/04/2018
Driven by financial blue chips, the MSM30 Index continued its recovery to close at 4,775.27 points, a gain of 0.53 per cent. The MSM Sharia Index ended at 677.06 points, down 0.07 per cent. HSBC Bank
Times of Oman
04/04/2018
Emaar Properties shares extended losses for another session on Tuesday, to hit their lowest level in a year, as selling continued on the wider Dubai gauge. Emaar Properties fell to a low of Dh5.58, b
Gulf News