UAE Stocks Mixed at Close of Trade markets

UAE Stocks Mixed at Close of Trade

After the close of trade on Monday, United Arab Emirates stocks were mixed as gains in the sectors of Real Estate & Construction, Services, and Banking led shares up while the losses in the sectors of Finance & Investment, Insurance, and Telecoms led the shares down.

The DFM General went down 0.17 percent to hit a new 6-months low, while the ADX General index increased 0.56 percent at the close in Dubai.

Meanwhile, the best performers of the session on the DFM General were Dubai Islamic Insurance Co., went up 3.40 percent or 0.026 points to trade at 0.790 at the close. Marka Pjse also gained 2.26 percent or 0.01 points to end at 0.54 and Emaar Development PJSC increased 1.78 percent or 0.100 pints to 5.710.

There are also worst performers in the session which were Takaful House, which went down 9.99 percent or 0.088 points to trade at 0.793 at the close. Dubai Investments PSJC decreased 2.13 percent or 0.050 points to end at 2.300 and Amlak Finance PJSC, which dropped 2.10 percent or 0.020 points to 0.933.

The top performers on the ADX General, on the other hand, were Union Cement which increased 14.29 percent to 1.360, Ad Natl Energy went up 11.86 percent to settle at 0.660 and Ad Shipbldg Co. which surged 10.33 percent to close at 2.030.

However, the worst performers were the Commercial Bank International which went down 9.62 percent to 0.940 in late trade, National Bank of Fujairah PJSC dropped 8.64 percent to settle at 3.70 and Al Khazna Ins which declined 3.57 percent to 0.27 at the close.

Decreasing stock outnumbered the advancing ones on the Dubai Stock Exchange by 16 to 13. While on Abu Dhabi Stock Exchange, 15 increased and 5 dropped, while 6 ended untouched.

The shares in Takaful House went down 9.99 percent or 0.088 to 0.793.

The crude oil for delivery in March went up 1.81 percent or 1.07 to $60.27 a barrel. In other commodities trading, Brent oil for April delivery increased 1.45 percent or 0.91 to achieve $63.70 a barrel, while the April Gold Futures went up 0.51 percent or 6.70 to trade at $1322.40 a troy ounce.

Meanwhile, USD/AED remained unchanged 0.00 percent to 3.6730, and EUR/AED increased 0.30 percent to 4.5073, while the US dollar Index Futures dropped 0.17 percent to 90.07.

You must be armed to the teeth with the best and most useful knowledge in trading. Visit Bworld Review to turn yourself into a sharper and wiser investor.

Allison W. Bennett | February 12, 2018