Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
The UAE stock markets made strong gains on Monday with both Abu Dhabi and Dubai main indices rising by more than 1% after S&P Global PMI report indicated a strong uptick in non-oil private sector.
Abu Dhabi Securities Exchange’s (ADX) general index — FADGI — was up by a solid 1.134%, reaching 9,428.43 points. A total of 23,120 trades were recorded, involving 362 million shares with a combined value of Dh1.218 billion.
Big-ticket shares such as Aldar, Multiply Group and ADIB rose leading to unusual rally in the ADX, which has experienced some volatile trading in the recent weeks.
The total market capitalisation of all companies listed on the ADX reached Dh2.968 trillion. Out of the 84 companies traded at the ADX, share prices of 33 companies rose, while 37 declined, and 14 remained unchanged.
Top gainers included Abu Dhabi Co. for Building Materials (+14.29%), Rapco Investment (+9.15%), Multiply (+6.47%), and Apex (+5.01%), while notable losers were Gulf Medical Projects (-6.67%), Commercial Bank International (-4.94%) and National Corporation for Tourism (-4.46%).
DFM
The Dubai Financial Market’s (DFM) general index (DFMGI) was up by 1.248% to reach 5190.7.
The surge was led by Emirates NBD which rose by 4.9%. Other big time stocks — Emaar, Emaar Development and Talabat —too rose adding to the rally.
A total of 13,384 trades were executed at the DFM, involving 267 million shares with a combined value of Dh601 million.
The prices of 23 companies rose, while 20 declined, and 8 remained unchanged.
Among the top gainers were Emirates REIT (+7.35%), Taaleem (+6.88%) and Shuaa (+5.07%). The most notable losers included QBTC (-12.27%), Dubai Refreshment Company (-10%) and Dubai National Insurance (-4.08%).
Saudi Arabia's benchmark index (.TASI) rose 0.3%, with the country's biggest lender Saudi National Bank climbing 1.1% and Al Rajhi Bank closing 0.3% higher.
Saudi Arabia is tapping global debt markets with a planned three-part bond sale, fixed income news service IFR reported, with proceeds expected to help cover its budget deficit and pay down debt.
Outside the Gulf, Egypt's blue-chip index (.EGX30) dropped 0.8%, ending a three-day winning streak, hit by a 4.1% slide in tobacco giant Eastern Company.
