21/06/2018 07:50 AST

Selling stabilised on Dubai index after losing 3.2 per cent in the past two sessions as the gauge stayed below the 3,000 mark, while Saudi Arabia’s Tadawul index tumbled before the MSCI upgrade.

The Dubai Financial Market general index closed 0.57 per cent lower to 2,922.57, after trading below the 3,000 mark last week.

“Tadawul’s upgrade vote takes place today [Wednesday]; while this could have had a positive impact on the region at an earlier stage, the current pressure in UAE exchanges is not expected to see a direct upside from the following,” Menacorp said in a morning note.

Emaar Properties closed at Dh5.14, down 0.19 per cent. Dubai Islamic Bank closed 1.2 per cent lower to Dh4.94. Air Arabia continued its fall, ending down 0.95 per cent to Dh1.04. Arabtec closed 0.47 per cent lower to Dh2.14.

“Traders may look to buy Arabtec for a target of Dh2.30 with stops placed under Dh1.98 level,” Shiv Prakash, senior analyst with First Abu Dhabi Bank Securities said in a note.

Abu Dhabi

The Abu Dhabi Securities Exchange general index closed 0.25 per cent lower to 4,550.29. Abu Dhabi Islamic Bank closed 1.04 per cent higher to Dh3.9. “ADIB may see a fresh leg up to the previous high of Dh7.65. Traders may look to buy on dips with stops below Dh6.98 support,” Prakash said. Julphar Pharmaceuticals closed 6 per cent higher to Dh2.24. Saudi Arabia’s Tadawul index closed 1.06 per cent lower to 8,182.68.

Saudi British Bank closed 3.70 per cent lower to 29.95 Saudi riyals (Dh29.33). Al Rajhi Bank closed at 85.20 riyals, down 2.07 per cent. Dar Alarkan Real Estate Development Co closed 1.39 per cent lower to Dh11.36. Elsewhere in the region, the Qatar exchange index closed 2.37 per cent lower to 8,881.85. The Muscat MSM 30 index closed 0.09 per cent higher to 4,593.53.


Gulf News

Ticker Price Volume
QNBK 161.50 144,143
SABIC 129.20 5,384,386
EEC 20.76 5,394,179
CHEMANOL 10.70 7,933,735
WALAA 28.60 174,561
EXTRA 60.80 293,094
HOKAIR 21.10 294,825

TASI 8,448.48 -18.14 (-0.21%)

Market
P/E
Price/BookValue
Dividend Yield (%)
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
SABIC 129.20 -0.20 (-0.16%)
STC 87.60 0.10 (0.11%)
RJHI 89.50 0.60 (0.67%)
NCB 47.90 -0.10 (-0.21%)
SECO 20.80 -0.14 (-0.67%)
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