UAE stock indices end mixed

Sunday, Apr 06, 2014

Dubai: UAE shares ended on Sunday with mixed results as indices closed in opposite directions amid high turnover.

Robust volumes drove Abu Dhabi’s stock benchmark index ADX Securities Index 0.87 per cent higher to 4966.36. The total value of traded shares stood at Dh1.57 billion.

Of the 37 stocks traded, 21 advanced, eight retreated and eight remained flat. Real estate and energy sector stocks were the biggest gainers. Their respective indices were up 6.03 per cent and 4.78 per cent.

Ras Al Khaimah Properties surged 13.68 per cent to Dh1.33, followed by Dana Gas, which rose 9.41 per cent to Dh0.93. Aldar properties was another bigger gainer, climbing 5.38 per cent to Dh3.72.

In Dubai, the market measure slid 0.62 per cent to 4589.68. Volumes stood at 1.09 billion shares, which were valued at Dh2.14 per cent.

Majority of the stocks declined. Of the 29 stocks traded, 17 closed lower, nine gained and three remained unchanged.

Of the top six active stocks in terms of value traded, Gulf Finance House, Deyaar Development and Drake and Scull International rose. Gulf Finance House was the biggest gainer of the day, jumping 5.30 per cent to Dh0.715. Deyaar was up 3.11 per cent to Dh1.66 and Drake ad Scull 3.47 per cent to Dh1.79.

The other real estate and construction stocks slipped. Union Properties, Emaar Properties and Arabtec slipped three pre cent, 1.68 per cent and 0.65 per cent respectively.

Oman Insurance and Depa were, among others, the two biggest losers. Oman Insurance fell 4.51 per cent and Depa 4.41 per cent.

By Gaurav Ghose Financial Features Editor