A. SREENIVASA REDDY (ABU DHABI)
The UAE stock markets reported positive trading on Thursday amid speculation over the possible US Fed Reserve interest rate hike next week.
The main index of the ADX — FADGI — was up 0.055% to close at 9,275.63 points. A total of 15,058 trades were recorded, involving 216 million shares with a combined value of Dh896 million. The total market capitalisation of all companies listed on the ADX reached Dh2.928 trillion.
Out of the 83 companies traded, the share prices of 41 companies rose, while 27 declined, and 15 remained unchanged.
The recently-listed MAIR Group ended the day at Dh2.4, which is a good premium over its listing price. Lulu Retail closed the day at Dh1.90, significantly below its debut price of Dh2.04 on November 14. The company continues to underperform at the stock market despite the hype surrounding its launch.
Top gainers included United Arab Bank (+5.51%), Alpha Dhabi (+2.86%), ADCB (+2.33%), and NMDC (+2.24%), while notable losers were CBI(-10%), Sharjah Cement(-4.32%), and Abu Dhabi Ship Building (-2.02%).
ADX benchmark index was up, aided by a 2.9% gain in Alpha Dhabi Holding and a 0.5% rise in Burjeel Holding. The healthcare provider has partnered with Aasandha to provide Maldivian patients access to specialised medical care.
The main index of the Dubai Financial Market (DFM) — DFMGI — saw a rise of 0.34% to close at 4,811.61 points. A total of 14,039 trades were executed, involving 145 million shares with a combined value of Dh401 million.
The prices of 30 companies rose, while 13 declined, and six remained unchanged.
Among the top gainers National Cement (+12.97%), Emirates Investment Bank (+11.11%), Emaar Development (+4.40%), and Takaful Emarat (+3.21%). The most notable losers included BHM Capital (-9.88%), Dubai Refreshment Company (-7.40%) and International Financial Advisers (-5.21%).