Wednesday, January 22, 2020
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Abu Dhabi gains; Dubai ends flat

Dubai: Abu Dhabi’s stock measure climbed yesterday, boosted by gains in investment and financial services, insurance and consumer staples stocks even as the total turnover declined.

The capital’s ADX Securities Index was up 0.54 per cent, closing in on the 5,000 mark, to end at 4985.49. More than 227 million shares exchanged hands, which were valued at Dh510.03 million, which declined from Dh676.69 million in the previous session.

Among the most active stocks, the gainers were Ras Al Khaimah Properties, which rose 2.59 per cent to Dh1.19; Dana Gas, which was up 1.19 per cent to Dh0.85 and Waha Capital, which advanced 1.43 per cent to Dh2.84. The biggest gainers were National Takaful, Abu Dhabi National Insurance and International Fish Farming Holding Co., which surged 9.56 per cent; 7.69 per cent and five per cent respectively.

Dubai’s benchmark stock index was more or less unchanged. The DFM General Index increased 0.03 per cent to 4198.07.

The volumes witnessed a dramatic fall, from Tuesday’s 1.01 billion shares to Dh796.19. The turnover declined from Dh2.34 billion to Dh1.53 billion. Of the 31 stocks traded, 15 fell, 11 gained and five remained flat.

Real estate and construction stocks were among the most active stocks, and had a mixed day. Deyaar Development rose 3.88 per cent; Drake and Scull was up 2.98 per cent and Emaar Properties closed just 0.33 per cent higher. Union Properties lost 1.89 per cent.