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 197.95 84,959
SABIC 123.00 1,931,153
GUCIC 14.12 31,216
SAICO 11.28 192,940
RJHI 98.90 2,665,788
APPC 54.80 112,265
ALMARAI 52.60 968,812

ADX 4,975.30 -9.99 (-0.20%)

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 4.16 -0.06 (-1.43%)
FAB 14.58 -0.02 (-0.14%)
ADCB 8.49 0.05 (0.59%)
CBI 0.87 0.00 (0.00%)
UNB 4.87 0.01 (0.20%)

DFM 2,512.83 -3.98 (-0.16%)

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
EIB 9.99 0.00 (0.00%)
EMIRATESNBD 9.24 0.04 (0.43%)
EMAAR 4.02 0.02 (0.50%)
DIB 5.07 -0.03 (-0.59%)
DU 5.05 -0.01 (-0.20%)
Oman's share index ends higher marginally

27/12/2018

The MSM30 index ended higher by 0.31 per cent to close at 4,326.15 points. MSM Sharia Index closed at 587.74 points, up by 0.05 per cent. National Finance was the most active in terms of volume and i

Times of Oman

Oman's share index ends higher marginally

27/12/2018

The MSM30 index ended higher by 0.31 per cent to close at 4,326.15 points. MSM Sharia Index closed at 587.74 points, up by 0.05 per cent. National Finance was the most active in terms of volume and i

Times of Oman

Dubai’s penny stocks see mild traction

27/12/2018

Small stocks, those whose prices are below Dh1, witnessed buying in the last hour of trade in Dubai, led by a Gulf Finance House (GFH) recovery after traders saw positive movement in US futures.

Gulf News

Oman's share index ends marginally higher

25/12/2018

The MSM30 index ended marginally higher by 0.22 per cent to close at 4,345.88 points. MSM Sharia Index closed at 591.80 points, down by 0.29 per cent. Bank Muscat was the most active in terms of volu

Times of Oman

UAE banks shares hold up even as real estate take a dive

25/12/2018

Banking stocks listed on the UAE bourses have been untouched by the recent sell-off that adversely impacted real estate shares. They are still holding up because of expectations that further Fed rate

Gulf News