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UAE indices traded ranged on Monday even as traders eyed the third quarter results to September.
The Dubai Financial Market General Index 0.44 per cent higher at 2,747.39. Traded value stood at Dh291 million.
Emaar Properties closed 1.22 per cent higher at Dh4.99. “Emaar Properties may target Dh5.38 and higher in the short term,” First Abu Dhabi Bank Securities (FABS) said in a note. FABS had a technical buy on Emaar at Dh5 on Monday. Emaar Properties saw a total volume of 7 million shares, which was higher than the average traded volume of last seven days. “Emaar is showing no intention to break beyond its resistance area as investors await news on whether the holding company will pass on its soon to be received dividend from its subsidiary, Emaar Developments,” Essam Kassabieh, senior analyst with Menacorp said.
Gulf Navigation saw a total volume of 68 million shares, the highest level since January 2017. Gulf Navigation closed 3.85 per cent higher at Dh1.08. The Abu Dhabi Securities Exchange general index closed 0.27 per cent higher at 4,956.19. Etisalat reclaimed recent highs and closed at Dh16.80, up 0.60 per cent. First Abu Dhabi Bank closed 0.16 per cent higher at Dh14.62.
In other stocks, Agthia closed 5.56 per cent higher at Dh3.99.
Traders will eye more third quarter results, which is considered as a weak quarter. “Abu Dhabi’s banking sector is expected to have reported in full by end of next week which would pave the way for other sectors to come forth, with investors looking out to insurance companies such as Salama in Dubai which had seen the Abu Dhabi Financial Group grab a stake in this quarter,” Kassabieh said.
Elsewhere in the Gulf, the Muscat MSM 30 index closed 0.04 per cent higher at 4,454.75, while the Qatar exchange index closed 1.18 per cent higher at 10,274.45.
Dubai index struggled to break the recent range of 2,700-2,850 as traders awaited results from Emaar Properties, the bellwether. The Dubai Financial Market General index closed 0.98 per cent lower a
Kuwait stocks trod water on Tuesday as it extended the lackluster performance from start of the week. The All Shares Index inched 1.86 pts lower to 5,101.77 points in largely tame session even as som
The MSM30 index ended lower to close at 4479.62 points, down by 0.53 per cent. MSM Sharia Index closed at 607.28 points, down by 0.41 per cent. Phoenix Power was the most active in terms of volume wh
Times of Oman
The Dubai index eased more than half a per cent on Monday, extending losses for another session, weighed by weakness of Emaar shares. The Abu Dhabi index fell nearly one per cent.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of global trade enabler DP World, rang the market-opening bell today to celebrate the multi-currency listing on Nasdaq Dubai of four debt listings. Th
The Gulf Today