Today's Edition
A.SREENIVASA REDDY (ABU DHABI)
The UAE stock markets continued to see brisk trading even as the global markets tumbled over fears of weak economic growth in the US and China.
Global markets began the September trading on a cautious note as the month is said to be very volatile historically for securities’ market. The first few days of the month have seen massive selloff despite the impending US rate cuts.
The general index of Abu Dhabi Securities Exchange (ADX) —FADGI — was down by a marginal 0.13% to close at 9,366.71 points. It reported a total of 21,649 trades involving 220 million shares with a total value of Dh1.01 billion.
The trading session saw prices of 24 companies rise, while 46 companies experienced a decline. Additionally, 11 companies closed unchanged compared to their previous closing prices. The market capitalisation of listed companies at ADX reached Dh2.834 trillion.
ADNOC Drilling, Abu Dhabi National Company for Building Materials and Khaleej Investments are among the gainers while Multiply Group, Apex Investments, NMDC Group and Gulf Medical Projects Company are among those who saw their share prices fall.
In the Dubai Financial Market (DFM), the general index (DFMGI) fell by 0.116% to close at 4,364.76 points. The trading session witnessed 11,055 trades involving 177 million shares with a total value of Dh329 million.
The trading session saw prices of seven companies rise, while another 30 companies experienced a decline. Additionally, 11 companies closed unchanged.
Commercial Bank of Dubai, Watania International Holding, Al Ansari Financial Services, and Al Salam Bank are among the gainers while National International Holding Company, Drake & Scull International, Shuaa Capital and Emaar are among those who experienced declines.
Elsewhere in the Gulf, Saudi Arabia's benchmark index (TASI) dropped 0.4%, hit by a 1.7% fall in aluminium products manufacturer Al Taiseer Group. Oil giant Saudi Aramco fell 0.9%
The Qatari benchmark (QSI) dropped 0.6%, as most of its constituents were in negative territory including Qatar Islamic Bank, which was down 0.8%.
Outside the Gulf, Egypt's blue-chip index (EGX30) finished 0.1% lower, with EFG Holding losing 1%.
