The UAE stock markets on Monday changed direction and headed south as the Dubai Financial Market index dropped by 2.79 per cent to hit 1,102.23 points. 6,400 transactions were reported in DFM with a trade volume of 71,395,344 shares.
The Abu Dhabi Securities Market also changed direction compared to Sunday and lost about 1.26 per cent to trade at 5,333.09 points compared to the previous closing of 5,401.09.
All sectors on the DFM were down. The Insurance fell 1.19 per cent. Services sector was down by 3.93 per cent. The Banking went down by almost 0.6 per cent and Investment sector was the heaviest loser with over 9 per cent fall.
The sectors on the ADSM were in the red except the Insurance, which climbed slightly by 0.02 per cent. The Services index went down 0.97 per cent to hit 3,154.15 points compared to 3,184.91 when trading opened. The Industrial sector crashed by over 4.2 per cent. The Hotels Index lost 0.04 per cent. The Banking sector lost about 0.65 percent.
The only movers on the DFM were Global Investment House which moved up by 1.76 per cent and Int. Financial Advisers with a slight 0.17 per cent rise.
The leading losers on the DFM were Dubai Investments which downed by 10.37 per cent, Islamic Arab Ins. which fell by 8.11 per cent, Amlak Finance which lost 4.72 per cent, EMAAR Properties lost 4.14 per cent, and Arab Intl. Logistics lost 3.94 per cent.
The top five advancers on the ADSM were Invest Bank which gained 3.04 per cent, Gulf Pharmaceutical Co. added 2.73 per cent, Abu Dhabi Ship Building Co. was upped by 1.73 per cent, Finance House climbed 1.19 per cent and Al Khazna Insurance Co. up by 0.66 per cent.
The laggards on the ADSM were Fujairah Cement Industries which crashed by over 8.70 per cent, Dana Gas with a 6.75 per cent fall, Ras al Khaima Properties lost 4.75 per cent, Asmak which dipped by 3.55 per cent and Aldar Properties shed 3.33 per cent.
