Today's Edition
A.SREENIVASA REDDY (ABU DHABI)
Shares worth more than Dh1.2 billion were traded at the UAE stock exchanges on Monday even as general indices fell following the worldwide tumble in markets.
September is living up to its reputation of being a volatile month for global stocks. Despite the expected rate cuts from the US Federal Reserve and other Central Banks, the stock markets have been witnessing selloffs in the last week after the markets have reached record highs in the August trading.
The general index of ADX saw a fall of 0.982 percent to reach 9355.3 points. It reported a total of 18,651 trades involving 219 million shares with a total value of Dh949 million.
The trading session saw prices of 15 companies rise, while 53 companies experienced a decline. Additionally, 11 companies closed unchanged compared to their previous closing prices. The market capitalisation of listed companies at ADX reached Dh2.831 trillion.
RAK Properties and ADPorts are among the gainers while International Holding Company (IHC), Alpha Dhabi Holding and Multiply Group are among those who saw their share prices fall.
In the Dubai Financial Market (DFM), the general index (DFMGI) was down by 0.31 percent to close at 4,359.12 points. The trading session witnessed 9,531 trades involving 139 million shares with a total value of Dh291million.
The trading session saw prices of 16 companies rise, while 27 companies experienced a decline. Additionally, seven companies closed unchanged.
BHM Capital (5.56 percent), Salik (2.68 percent) and Alfirdous (1.86 percent) are among the top gainers while Dubai Refreshment Company (DRC) (-9.91 percent), Agility (-4.6 percent) and Dubai National Insurance (DNIR) (-4.04 percent) are among those who experienced declines.
Elsewhere in the region, Saudi Arabia's benchmark index (TASI) dropped 0.2 percent, with Al Taiseer Group losing 0.5 percent and Riyadh Bank retreating 2.1 percent. The Qatari benchmark (QSI) closed 0.4 percent lower, with the Gulf's biggest lender Qatar National Bank (QNBK.QA) falling 0.6 percent. Outside the Gulf, Egypt's blue-chip index (EGX30) added 0.3 percent, helped by a 7.9 percent jump in Egypt Kuwait Holding as the firm signed market maker agreement with National Investment Co.
