Mixed trend seen in Dubai, Abu Dhabi bourses
(1/11/2018 6:21:00 AM)
UAE bourses closed flat on Wednesday, and witnessed mixed trend.
The Dubai Financial Market General index closed 0.12 per cent lower at 3,499.36. Arabtec closed 3 per cent higher at an intra-day high of Dh2.75. Union Properties (UPP) closed 0.99 per cent lower at Dh1.
“UPP ended the session above Dh1 but is still under some profit taking pressure,” said Hisham Khairy, head of institutional trading at Menacorp.
Deyaar Properties closed 3.51 per cent higher at Dh0.561, and the stock may test the Dh0.56 soon, said Khairy.
In other stocks, Gulf Finance House closed 0.65 per cent lower at Dh1.53. Emaar Properties closed 1.09 per cent lower at Dh7.23. DP World closed less than a per cent higher at $26.70.
The Abu Dhabi index also ended flat amid similar trend as seen in Dubai. Etisalat closed 0.56 per cent lower at Dh17.90. Abu Dhabi Commercial Bank closed at Dh7.39, up 0.82 per cent. First Abu Dhabi Bank closed flat Dh11.
Elsewhere in the Gulf, Saudi Arabia’s Tadawul index closed at 7,300.37, up 0.13 per cent. The Nomu index closed at 3,036.68, up 0.45 per cent.
The Muscat MSM 30 index closed 0.11 per cent lower at 5,099.53. The Qatar exchange index closed 0.51 per cent higher at 9,048.17.