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Dubai, Abu Dhabi bourses remain upbeat

DUBAI — UAE markets continued their upbeat run yesterday, with shares in Dubai's general index advancing 1.41 per cent to 4,506.21 points and Abu Dhabi's main benchmark increasing 1.54 per cent to 3,642.79 points.

Gulf Navigation Holding (GULFNAV), the leading shipping and marine services company in the Middle East, and Dubai Financial Market (DFM Co.), the only publicly traded stock exchange in the region, were the top traders at the Dubai Financial Market (DFM) General Index.

GULFNAV, whose total volume of traded shares amounted to Dh433.22 million, rose 8 per cent to Dh1.38 while DFM Co. gained 2 per cent to Dh3.28. Its traded shares were valued at Dh137 million.

Public Warehousing Co., a global provider of logistics and value-added services, led DFM's top gainers with a jump of 15 per cent to Dh25.75, followed by GULFNAV.

The other big gainers were Al Mazaya Holding Co., which climbed 4.44 per cent to Dh7.99; Amlak Finance, a pioneer in home financing in the region, which gained 4.3 per cent to Dh3.66; and National Cement Co., which advanced 4 per cent to Dh10.75.

Dubai National Insurance, a Dubai-based company engaged in insurance and reinsurance of all classes of business, was the only loser, falling 4.22 per cent to Dh3.40.

Oman & Emirates Investment Holding Co. topped the Abu Dhabi Securities Market (ADSM) Index with a gain of 10 per cent to Dh16.50, followed by Abu Dhabi National Takaful Co. with an increase of 7.11 per cent to Dh5.27, and Abu Dhabi Commercial Bank with a rise of 7 per cent to Dh7.74.

Fujairah Building Industries fell 7.5 per cent to Dh1.73, Um Al Quwain Cement Industries Co. dropped 4 per cent to Dh2.23, and Abu Dhabi National Insurance Co. decreased 3.54 per cent to Dh9.