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Week ends with big gains in UAE |
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2/3/2006 8:49:35 AM |
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DUBAI — The UAE market has ended the week with considerable gain with the DFM Index rising 2.91 per cent and ADSM Index surging by 4.37 per cent yesterday.
While trading volumes have continued to remain high, the manufacturing sector has been relatively inactive and insurance has seen a downside.
The NBAD General Index gained 669 points or 4.27 per cent to close at 16,336 points. All the three subindices showed the up trend. As the banking sector index gained 577 points to close at 116,587, the service sector index followed the trend with gains of 1,013 points to hit 20,326. The Insurance sector added 9.99 points to finish at 7,518.
The NBAD ESM general index gained 292 points while the Emnex posted 419 points rally to finish at 10,021 points.
Yesterday's rally was driven by a surge in all categories led by Emaar scrip which gained 6.77 per cent to close at Dh21.30. Etisalat shares traded up by 4.26 per cent to close at Dh26.90 while Qatar Telecom remained steady.
The Dubai Financial Market traded a volume of more than 170 million shares worth Dh2.35 billion.
Major gainers across the two bourses include National Bank of Abu Dhabi, up 6.11 per cent to close at Dh48.65, First Gulf bank, up 7.03 per cent to finish at Dh22.85 Amlak Finance, edging up by 7.83 per cent to Dh9.64 and Gulf Cement gaining 8.67 per cent to Dh16.30. On ADSM, of the 62 traded stocks, 53 posted increases, 6 lost and here remained unchanged.
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