Market stays range bound

Strong profits declared by Emaar also had no impact on the sentiments, which were generally negative, while trading was suspended on the property stock for the day.

On the DFM, Dubai Investments was up 15 fils to Dh5.90 on a volume of 12,020, while Emirates Bank International was up five fils to Dh21.90 on a volume of 17,530 shares and Dubai Islamic Bank also closed with gains of five fils at Dh26.75.
National Bank of Dubai dropped 35 fils to Dh98.10, while Shuaa was down two fils to Dh1.01 and Tabreed remained unchanged at Dh9.60 on a volume of 3,191 shares.

On the ADSM, First Gulf Bank saw 573,500 shares changing hands, while the stock price remained unchanged at Dh5.60. Abu Dhabi Islamic Bank advanced five fils to Dh16.70 on a volume of 11,652 shares, while Qutel was up Dh1.50 to Dh112.50 and National Marine Dredging finished with gains of Dh3 at Dh748.
Etisalat dropped 50 fils to Dh119.50 on a volume of 1,718 shares, while Abu Dhabi National Hotels declined Dh1.50 to Dh97 and Al Waha slipped on fil to Dh5.98.

The National Bank of Abu Dhabi Emirates Stock Markets Index (NBAD ESMI), which tracks the DFM and the ADSM listed shares, declined 2.5 points to 1,396.95. The NBAD ESMI banking sector index was down 0.33 points to 1,661.05 and the NBAD ESMI service sector index fell 3.47 points to 1,038. The NBAD ESMI insurance sector index remained unchanged for the day.

Emirates Financial Services (EFS) listed no movers on the OTC market, while Emnex slipped 3.24 points to 2,223.72. The financial services sub-index was down 0.25 points to 2,546.79 and the telecom sub-index declined 4.44 points to 1,104.6. The Islamic sub-index was up 2.22 points to 1,015.56 and the property and insurance sub-indices remained unchanged.

The NBAD market review also listed no movers on the OTC market. The NBAD general index declined 5.16 points to 3,462.82 as the NBAD banking sector index went down 0.56 points to 3,648.12 and the NBAD service sector index dropped 12.92 points to 3,958.17. The NBAD insurance sector index closed unchanged.
EFS reported the cumulative market volume for the day at 641,579 shares, which were valued at over Dh4.82 million.