Today's Edition
A.SREENIVASA REDDY (ABU DHABI)
The UAE stock markets experienced declines on Monday after crossing the $1 trillion market cap milestone on Friday.
Abu Dhabi Securities Exchange’s (ADX) main index — FADGI – saw a fall of 0.594% to reach 9387.08 points.
International Holding Company (IHC) began its share buyback programme on Monday, resulting in one bulk trade at the ADX in which over 360,000 IHC shares were sold for Dh149 million. This is part of Dh1.48 billion share buyback initiated in the first tranche.
Meanwhile, Americana Restaurants announced that it has completed the buyback of 25 million shares. The shares have been bought on the ADX under multiple tranches at an average price of Dh2.460 per share.
The trading session saw the share prices of 26 companies rise while 40 companies experienced a decline. Additionally, 17 companies closed unchanged compared to their previous closing prices.
The combined market capitalisation of all ADX-listed companies reached Dh2.928 trillion.
Lulu Retail shares ended at Dh2.05, which is above Dh2.04 at which it got listed on November 14.
NMDC Energy (+2.68%), Gulf Cement (+2%), PALMS Sports (+1.98%) and ADCB (+1.58) are among the prominent gainers while SCIDC (-9.54%), Al Ain Alahlia Insurance (-9.4%), National Company for Building Materials (-5.42) and GFH Group (-3.15) are among the losers in the stock market on Monday.
In the Dubai Financial Market (DFM), the general index (DFMGI) saw a fall of 0.572% to close at 4,712.66 points. The trading session witnessed 13,131 trades involving 203 million shares with a total value of Dh476 million.
The trading session saw the prices of 16 companies rise while 26 companies experienced a decline. Additionally, six companies closed unchanged.
National International Holding (+3.12%), Amanat Holdings (+2.83%) and Emaar (+1.84%) are among the top gainers, while Emirates Investment Bank (-9.65%), Gulf Navigation Holding (-7.03%) and National General Insurance (-5.93) are among those who experienced declines.
Realty giants Emaar and Deyaar continue to rise after they reported excellent last quarter results.
