The Year 2005’s final day of trading lived up to the expectations of the market with indices ending in profits. Soaring oil revenues, abundant liquidity, and strong corporate results, had triggered a boost in demand for the shares in the region which kept the market pushing ahead in a bullish way.
To sum up the last day of trading of the year, the DFM grew by about half a per cent, where as the ADSM rose by more than one and a half per cent.
The Dubai Financial Market rose by 0.46 per cent and closed at 1,019.69, with a rise of 4.65 points. Around 85 million shares changed hands in 7,445 deals.
The Abu Dhabi Securities Market moved up by 1.44 per cent to end at 5,202.95, with an increase of 73.96 points.
The Dubai Financial Market announced that the semi-annual coupon payment on Emirates Bonds (EK-2006) will be made on 11th Jan 2006. Holders of the bonds whose names appear in DFM register on the close of trading on the 2nd Jan 2006 (Settlement: 4th Jan 2006) will be entitled to the coupon payment covering 11th Jul 2005 to 10th Jan 2006 (inclusive).
All the sectors ended in profits with the exception of the Banking sector which dipped by 0.49 per cent, whilst the Insurance, Investment and Service sectors grew by 0.32 per cent, 0.39 per cent and 1.32 per cent.
Sector indices on the ADSM too followed the same with all the sectors booking gains with the exception of the Insurance sector which shed 1.01 per cent. The Banking, Hotel, Industrial and Service sectors moved up by 2.43 per cent, 0.49 per cent, 1.33 per cent and 0.58 per cent.
The top spot amongst the gainers on the DFM was grabbed by Dubai National Insurance and Reinsurance which surged by 11.15 per cent, Gulf General Investment Company grew by 4.79 per cent, Amlak Finance rose by 3.98 per cent, Arab International Logistics Company high by 1.89 per cent and Islamic Arab Insurance Company up by 1.84 per cent.
The losers on the DFM were Commercial Bank of Dubai which dipped by 4.71 per cent, International Financial Advisors lost 3.42 per cent, Emirates Bank fell by 1.64 per cent, Dubai Investments low 0.74 per cent and Arab Insurance Group down by 0.64 per cent.
The advancers on the ADSM were Union Insurance Company which pushed up by 9.42 per cent, Aabar Petroleum Investments Company grew by 7.69 per cent, National Bank of Abu Dhabi rose by 7.44 per cent, International Fish Farming Company high by 5.03 per cent and Gulf Pharmaceutical Industries added 3.55 per cent.
The top five losers on the ADSM were Al Ain Ahlia Insurance Company which shed 9.05 per cent, Umm Al Qaiwain Cement Industries Company lost 8.29 per cent, Al Wathba National Insurance Company dipped by low by 5.66 per cent, Emirates Driving Company down by 5.45 per cent and Fujairah Cement Industries fell by 5.05 per cent.
