Although stocks on the UAE markets experienced a steep fall on the last day of trading last week following the news on the demise of Shaikh Maktoum Bin Rashid Al Maktoum, trading Sunday began on a positive note and the markets managed to gain back the losses it had incurred.
The Dubai Financial Market closed up with a robust growth of 3.44 per cent at 1,075.72; with an increase of 35.81 points. Around 104 million shares changed hands in 8,226 deals worth AED 1.06 billion.
The Abu Dhabi Securities Market ended high by 1.39 per cent at 5,230.03; with a rise of 71.57 points. The total volume of shares reached 33 million with value reaching AED 206 million in 3,434 deals.
Dubai Investments announced on the DFM that the new subscription dates for the right shares of DIC from Monday 23/01/2006 to 04/02/2006.
The Investment sector which fell badly on the last day of trading last week experienced a boost and trading as the strongest sector on the DFM at 7.96 per cent, followed by the Service sector at 4.17 points. The Banking and Insurance sectors added 1.97 per cent and 2.07 per cent.
All sectors on the ADSM booked profits with the sole exception of the Insurance sector which slipped by 0.76 per cent. The Banking sector rose by 1.64 per cent, the Industrial sector grew by 1.61 per cent and the Service sector climbed by 1.25 per cent.
The top five advancers on the DFM were Islamic Arab Insurance Company which was high by 8.78 per cent, closely followed by Commercial Bank of Dubai at 8.65 per cent, Amlak Finance rose 8.14 per cent, Arab International Logistics Company grew by 8.07 per cent and Dubai Investments added 6.94 per cent.
There were no losers on the DFM today.
The top five movers on the ADSM were Al Wathba National Insurance Company which climbed by 9.60 per cent, Fujairah Cement Industries followed suit at 8.92 per cent, Abu Dhabi National Takaful Company rose by 7.70 per cent, ALDAR Properties high by 4.41 per cent and Emirates Foodstuff and Mineral Water Company added 3.44 per cent.
The losers on the ADSM were Palestine Telecommunications Company which slumped by 9.73 per cent, Abu Dhabi National Insurance Company shed 5 per cent, Sharjah Cement and Industrial Development Company low by 2.15 per cent, Union Cement Company dipped by 1.59 per cent and International Fish Farming Company shed 0.27 per cent.
The UAE stock markets would remain closed from January 9 – 11 on the occasion of Eid Al Adha.
