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Market ends on a positive note

DUBAI - The UAE market indices continued to gain yesterday, the last trading day of the week and closed on a positive note. The Abu Dhabi Stock Market (ADSM) and Dubai Financial Market (DFM) reported relatively high volumes with all the sub indices moving up. The NBAD General Index closed 10.08 points up while the Emirates Stock Market Index closed up by 4.13 points.

DFM, traded over 368,825 shares worth Dh11.7 million. In the banking sector, the National Bank of Dubai counter traded 40,000 shares worth more than Dh4.3 million. The scrip closed Dh1.25 up at Dh108.50. The Emirates Bank counter traded a modest volume of 1,500 shares in a lone deal. The share closed five fils down at Dh20.20. Dubai Islamic Bank counter traded more than 100,000 shares valued at more than Dh3.9 million, however, the share closed at Dh28.25 without any change from the previous closing price. The Commercial Bank of Dubai also traded a fairly large volume worth over Dh1.7 million, but the share closed intact at Dh78.50.

Overall, on the DFM the service scrips headed south yesterday. The Emaar counter traded relatively small volume of 18,000 shares worth Dh443,000 and closed five fils down at Dh24.50. Tabreed scrip was down by 10 fils to close at Dh11.95. The counter traded more than 92,000 shares worth over Dh1 million.

On ADSM, leading the banking scrips remained dormant yesterday. While the Abu Dhabi Islamic Bank gained 20 fils and closed at Dh18.50, the First Gulf Bank was down by 21 fils at Dh7.94. The insurance sector did not report any price movements yesterday.

In the telecom sector, Etisalat gained 50 fils and closed at Dh138. Q-Tel scrip closed up by 50 fils at Dh159. Reflecting the overall positive trend, the Emnex closed 6.04 points up at 2,614.62 points. While the NBAD Emirates Stock Market Index moved up by 0.26 per cent to 1601.22, the NBAD general index moved up by 0.25 per cent to 3,996.07 points.