Dubai shares slightly down
Foreign investors net DFM buyers by AED 6.23 mln
Dubai Financial Market General Index (DFMGI) ended today’s session with a slight decline of 0.19%, or nearly 3 points. Snapping a consecutive upturn, the Index drifted down to reach its intraday low at 1646.31 then pared some of its early losses to stabilize at 1659.89.
Nearly 276.4 million shares were exchanged today, lower than yesterday’s volume of 425 million shares. Similarly, turnover decreased from AED 795 million recorded yesterday to approx. AED 422.5 million, while number of transaction reached 5075.
Hits Telecom was the top drag, plummeting 7.65% to AED 1.57, followed by Tabreed that dropped 5.77% to AED 0.49. Takaful House came third, ending 3.57% lower at AED 1.35.
Most leading stocks ended on a down note, as Emaar fell 0.88% to AED 3.37. However, the developer took the lead with a turnover of AED 132.6 million, generated from exchanging nearly 39 million shares.
Emirates NBD also eased off 0.80% to AED 2.47.
Tabreed was the volume leader, after around 70.8 million of its shares changed hands. The stock retreated 5.77% to AED 0.49, to continue bleeding, hurt by the disappointing corporate results for FY09.
On the bright side, the top three advancers shut at their maximum levels. They were spearheaded by National Cement that climbed 4.90% to AED 4.07. It was followed by Commercial Bank of Dubai (CBD) that leapt 4.81% to AED 3.27. GGICO came third, adding 4.44% to AED 0.94.
Most sectors ended in the green, with five heading north and three heading south. Advancing sectors were led by Materials that rose 4.90%, followed by Investment & Financial Services (0.73%), then Banks (0.40%). Insurance tailed the list, inching up 0.03%.
Meanwhile, Utilities went down 5.77%, followed by Real Estate & Construction (1.18%), then Telecommunication (0.71%).
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