Arab Today, arab today bank of sharjah most traded by value and volume drops 242
Last Updated : GMT 05:12:11
Arab Today, arab today
Arab Today, arab today

Bank of Sharjah, most traded by value and volume, drops 2.42%

Arab Today, arab today

Arab Today, arab today Bank of Sharjah, most traded by value and volume, drops 2.42%

ABU DHABI - Arabstoday

Real estate stocks helped the Abu Dhabi Securities Exchange gain 0.53 per cent to 2,621.30. Aldar, one of the heaviest weightings on the bourse, rose 2.17 per cent to Dh1.4 and Sorouh climbed 2.31 per cent to Dh1.31. The two companies accounted for just over a quarter of the transactions during the session. The majority of activity, however, was centred on Bank of Sharjah, the most traded stock by value and volume, which dropped 2.42 per cent to Dh1.67. Other banking stocks fared better with Abu Dhabi Commercial Bank (ADCB) and Waha Capital among the top gainers. "We saw a bit of buying interest in ADCB," said Anastasios Dalgiannakis, Institutional Trading Manager at Mubasher Financial Services. "However, the bourse will continue to take its cue from European markets until we hear if the UAE has achieved an MSCI upgrade to emerging market status. "The implementation of the new delivery versus payment settlement system (DvP) is a positive development. The brokerages have been aware of the situation for some time so they should be ready for DvP," he added. Abu Dhabi National Takaful Company led gains, jumping 9.89 per cent to Dh7.22. Of the 23 companies traded, 13 rose, four fell and six closed unchanged. Elsewhere in the region, Saudi Arabia's Tadawul All Share Index slipped 0.32 per cent to 6,732.96, Qatar's measure dropped 0.24 per cent, Kuwait's index climbed 0.29 per cent, Bahrain's bourse declined 0.32 per cent and Muscat's exchange edged 0.17 per cent higher Dubai Financial Market The Dubai Financial Market (DFM) General Index slipped 0.63 per cent yesterday with blue chip companies leading the decline amid fears the UAE might not get an MSCI upgrade.The bourse closed at 1,535.67 with property and construction stocks leading the slump. Real estate developer Emaar fell 1.6 per cent to Dh3.07 and construction firm Arabtec dropped 0.76 per cent to Dh1.30. Drake and Scull International, Union Properties and utilities company Tabreed were among the top decliners as local investors sold up and reinvested their money in other markets. "Volumes have dropped significantly with a thin turnover of only Dh109 million yesterday. Investors are short-term trading with little conviction," said Anastasios Dalgiannakis, Institutional Trading Manager at Mubasher Financial Services. "These low activity levels will continue until we hear the MSCI decision in June when turnover will be impacted one way or another. The half-year reporting season begins soon after so I am hopeful we will see some sort of pick-up before Ramadan," he added. Air Arabia bucked the trend to climb 0.71 per cent to Dh0.708, Islamic insurance provider Takaful Emarat, the most traded stock by value and volume, rose 6.35 per cent to Dh0.77. Al Firdous Holding Company was the top gainer, climbing 14.29 per cent to Dh0.76 followed by, which rose 11.11 per cent to 10 US cents a share. Of the 29 companies traded, 11 rose, 14 fell and four closed unchanged. Some 113.9 million shares worth Dh109.1 million were traded.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank of sharjah most traded by value and volume drops 242 Arab Today, arab today bank of sharjah most traded by value and volume drops 242

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank of sharjah most traded by value and volume drops 242 Arab Today, arab today bank of sharjah most traded by value and volume drops 242

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday