A.SREENIVASA REDDY (ABU DHABI)
ADNOC Gas was the top traded stock in Monday trading and its share price was up 1.5% at the Abu Dhabi Securities Exchange (ADX) after its parent company ADNOC has ceded its 60% stake in the Ruwais Liquified Natural Gas plant to ADNOC Gas.
A total of 39 million shares of ADNOC Gas worth Dh135 million were traded at the ADX on a newsy day for the UAE stock markets with Talabat announcing its intention to float on the Dubai Financial Market (DFM).
The general index of the ADX, known as FADGI, fell by 0.142%, reaching 9,435.87 points.
A total of 23,084 trades were reported, involving 352 million shares with a combined value of Dh1.25 billion. The market capitalisation of all companies listed on ADX reached Dh2.924 trillion, nearing the Dh3 trillion milestone.
Fujairah Building Industries (+14.84%), Gulf Medical Projects (+12.23%), RAK National Insurance (+10%) and Agility Global (+9.02) were among the prominent gainers. Fertiglobe (-5.24%), Foodco (-4.5%), Americana Restaurants (-3.7%), and Building Materials (-3.6%) were among the day’s notable losers.
In the Dubai Financial Market (DFM), the general index (DFMGI) increased by 0.272%, closing at 4,652.43 points.
The trading session saw 11,181 trades, involving 262 million shares with a total value of Dh523 million. Prices of 27 companies rose, while 16 declined, and seven closed unchanged.
National International Holding (+14.97%), Agility Warehousing (+8.36%), Dubai Islamic Insurance (+3.83%) and Spinneys (+3.29) were among the top gainers. Takaful-Emarat (-9.74%), National Industries (-9.09%) and Dubai Taxi (-2.50%) saw declines.