Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
International Holding Company (IHC) has so far bought back a total of Dh1.024 billion worth of shares as part of its Dh5 billion share buyback programme, even as UAE stock markets reported flat trading on Wednesday following Tuesday’s impressive gains.
In a filing posted on the Abu Dhabi Securities Exchange (ADX) on Wednesday, IHC revealed that it had purchased 99,000 shares worth Dh39.98 million at an average price of Dh403.84 per share. The company still has Dh776 million worth of shares to buy to complete the first tranche of its Dh1.8 billion share buyback programme.
The main index of the ADX — FADGI — saw a marginal decline of 0.094% to close at 9,285.34 points. A total of 24,034 trades were reported, involving 291 million shares with a combined value of Dh1.186 billion. The total market capitalisation of all companies listed on the ADX reached Dh2.903 trillion.
Of the 76 companies listed, the share prices of 26 companies rose, while 37 declined, and 13 remained unchanged. Top gainers included ESG Group (+14.91%), Dana Gas (+5.5%), National Takaful (+5.45%), and ADNOCLS (+4.12%), while notable losers were Hilly Holding (-10%), Al Khaleej Investment (-3.99%), and Space42 (-3.3%).
The main index of the Dubai Financial Market (DFM) — DFMGI — fell 0.492% to close at 4,805.07 points. A total of 15,793 trades were executed, involving 258 million shares with a combined value of Dh650 million.
The prices of 18 companies rose, while 24 declined, and four remained unchanged.
Among the top gainers were Dubai National Insurance (+14.84%), National Cement (+14.67%), National General Insurance (+11.11%), and Commercial Bank of Dubai (+2.82%). The most notable losers included National International Holding (-8.66%), Gulf Navigation Holding (-7.96%), and Agility Warehousing (-1.72%).
