22/03/2018 07:59 AST

The Dubai index moved higher on Wednesday, boosted by the announcement of a joint venture between Emaar Properties and Aldar Properties. The Dubai Financial Market (DFM) General Index closed 0.75 per cent higher at 3,206.70.

Emaar Properties gained 2.19 per cent to close at Dh6.07, while Aldar rose 2.78 per cent to Dh2.22. “The Emaar-Aldar alliance is helping sentiment. We think it is a positive in that they would have access to each other’s expertise and or land bank. Nonetheless, the extent of collaboration needs to be seen,” said Vrajesh Bhandari, portfolio manager with Al Mal Capital.

Emaar Development closed more than 2 per cent higher to Dh5.46 while Drake and Scull ended the day 2.82 per cent higher at Dh1.82. Air Arabia gained 0.68 per cent to close at Dh1.29.

The Abu Dhabi Securities Exchange index ended the day 0.91 per cent higher at 4,566.66. Watania surged 8.33 per cent to end at Dh0.52, while Taqa gained 5.88 per cent to close at Dh0.72. Saudi Arabia’s Tadawul index closed 0.48 per cent higher at 7,761.74.

“Saudi Arabia has been strong as we approach the FTSE decision at the end of March. It is more selective now on and investors will focus on companies that stand to benefit from current reforms, especially the push for Saudisation,” Bhandari said.

After underperforming its regional peers last year, Saudi equities have gained 6.9 per cent so far in the year amid firm oil prices and the implementation of a slew of government reforms.

This performance compares with a more than 5.5 per cent loss on the DFM General Index. In stock-specific action, Dar Alarkan Real Estate Development Co gained 3.53 per cent to close at 11.44 Saudi riyals, while Alinma Bank was up 0.60 per cent to end the day’s session at 20.20 riyals.

Elsewhere in the Gulf region, the Qatar Exchange index eased 1.16 per cent to end at 8,873.38 while the Muscat MSM 30 index closed 0.30 per cent higher at 4,796.23.


Gulf News

Ticker Price Volume
QNBK 152.99 194,592
SABIC 122.74 4,734,347
ALMARAI 60.12 820,477
STC 84.53 189,775
BURUJ 34.09 93,849
SAICO 20.47 465,764
WALAA 34.02 310,680

ADX 4,693.47 11.00 (0.23%)

Market
Dividend Yield (%)
P/E
Price/BookValue
Performance
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Index vs...
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
ADIB 3.88 0.00 (0.00%)
FAB 12.50 0.00 (0.00%)
ADCB 7.10 0.08 (1.13%)
CBI 0.60 0.00 (0.00%)
UNB 3.70 0.02 (0.54%)

DFM 3,061.97 -17.54 (-0.57%)

Market
Dividend Yield (%)
P/E
Price/BookValue
Performance
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Index vs...
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
EMIRATESNBD 10.55 0.15 (1.44%)
EIB 9.50 0.00 (0.00%)
EMAAR 5.58 -0.02 (-0.36%)
EMAARMALLS 2.15 0.01 (0.46%)
DIB 5.46 0.03 (0.55%)
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Lacklustre trading continues on DFM, ADX

23/04/2018

Lacklustre trading continued on the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX) on Sunday.

The Dubai Financial Market General Index fell 0.08 per cent to 3,079.

Gulf News

Market cap of ADX listed companies pegged at Dh485b

23/04/2018

The market capitalisation of listed companies on the Abu Dhabi Securities Exchange (ADX) increased by 2 per cent to Dh485 billion by the end of 2017, compared to Dh475 billion at end of 2016.

Gulf News

Bond and sukuk listings bolster MSM debt market

23/04/2018

As many as 26 bond and sukuk issuances have been listed on the Muscat Securities Market (MSM) as of December-end 2017, underscoring the growing role of the debt as well as the equity markets in suppo

Oman Daily Observer

Kuwait equities drop in lacklustre session – Ooredoo tumbles 40 fils; KIPCO flat

23/04/2018

Kuwait stocks slipped into red on Sunday extending its losses to fourth straight session. The All Shares Index fell 8.55 points in lackluster trade to 4788.93 pts weighed by Ooredoo even as the broad

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