Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE - DFM, ADX hit fresh five-year high in robust trading activity  Join our daily free Newsletter

MENAFN - Arab News - 16/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) The Dubai Financial Market's General Index rose to the highest in more than five years as real estate stocks extended the gains in robust trading activity. The benchmark measure advanced 0.91 per cent to 3,186.55 points, the highest since October 2008.

Trading volumes rose to 886.34 million from 639.86 million shares traded on Thursday. Emaar Properties, up 0.27 per cent with 173.3 million shares, and Arabtec Holding Company, climbed 3.28 per cent 454.26 million shares, led the positive sentiment on the exchange.

Abu Dhabi market also rose 1.24 per cent to the highest since September 2008. Eshraq Properties climbed 1.4 per cent to Dh1.42, the highest since its listing in 2011.

"Markets are quite strong despite nervousness in global markets. Some catch up from Arabtec after lagging over the previous month," Saleem Khokhar, head of equities at National Bank of Abu Dhabi's Asset Management Group, told Khaleej Times.

The investors are picking up shares in property and construction companies amid hopes of securing good returns in the wake of strong recovery in real estate sector this year.

According to fund managers and analysts the real estate and construction firms will continue to generate 'reasonable demand' in coming days that will keep the market in positive territory next year.

"Sectors in focus were real estate, construction, banks and telecom and they dominate most of the trade today," Khokhar said.

In reply to a question, he said trading activity is likely to slow in coming days as "we near close of the year and market participants may take a break for the vacation period".

In regional markets, Saudi Arabia's Tadawul All Share Index rose 26.84 points and close the day at 8,403.98 points. Qatar's QE Index advanced 0.4 per cent to 10,526.95 points and Amman rose 60.6 points to 4,326 points. Kuwait's market lost 0.8 per cent, Muscat fell 0.2 per cent and Bahrain's index declined to 1,207.49 points.

 


Arab News




  MENA News Headlines
 Apr 25 2015 - Dubai's Damac Q1 net profit down 38 percentMENAFN
(MENAFN) Dubai's Damac Properties reported a 38 percent fall in first-quarter net profit, despite surging revenue, because of the effect of a big one-off gain a year ago, Emirates 24/7 reported.The ...

 Apr 25 2015 - Saudi Cable signs USD170.7m debt restructure dealMENAFN
(MENAFN) Saudi Cable Company said in a statement that it has signed a deal with three of its main lenders to restructure USD170.7 million of debt, Arab News reported.The debt will be restructured ...

 Apr 25 2015 - Saudi petrochemical firms combined profit down in Q1MENAFN
(MENAFN) Saudi Arabia's first-quarter corporate earnings were generally weaker than expected, a sign that foreign investors should be cautious as the stock market opens up to them this year, Arab ...

 Apr 25 2015 - EU migrant rescue ships head for LibyaThe Peninsula
(MENAFN - The Peninsula) British and German warships made ready to sail for waters off Libya as Europe ramped up rescue operations in the Mediterranean after up to 900 desperate migrants drowned last ...

 Apr 25 2015 - Qatar- Al Rayyan thrash Al Markhiya as Emir Cup kicks off in styleThe Peninsula
(MENAFN - The Peninsula) Football giants Al Rayyan yesterday celebrated their ascent to Qatar Stars League (QSL) by crushing Markhiya 5-0 in their opening Emir Cup clash.Al Rayyan were demoted to the ...

 Apr 25 2015 - Qatar- 'Desert King' Al Attiyah is unstoppable on home soilThe Peninsula
(MENAFN - The Peninsula) Qatar's Nasser Saleh Al Attiyah, Spain's Marc Coma and Poland's Rafal Sonik each confirmed their third victories at the Sealine Cross-Country Rally in four years in the car, ...

 Apr 25 2015 - Qatar- Al Attiyah wins Sealine RallyThe Peninsula
(MENAFN - The Peninsula) Dakar Rally champion Nasser Saleh Al Attiyah yesterday said healthy time lead on the first three days set up his title win at this week's Sealine Cross-Country Rally. The ...

 Apr 25 2015 - Qatar- Stafford Sri Lankan School Doha celebrates New YearThe Peninsula
(MENAFN - The Peninsula) Stafford Sri Lankan School Doha celebrated the Sinhala and Hindu New Year recently by organising many traditional dances, games and competitions. The celebration, which ...

 Apr 25 2015 - Qatar- North Indians' Association celebrates BaisakhiThe Peninsula
(MENAFN - The Peninsula) North Indians' Association celebrated the harvest festival Baisakhi recently at Al Ghazal hall. Nearly 200 members joined the cultural programme organised by the association ...

 Apr 25 2015 - Qatar- Visa trading is illegal and punishableThe Peninsula
(MENAFN - The Peninsula) Qatari law sets strict punishment for visa traders with aim of preventing trade of illegal visas because every single illegal work visa adds an unemployed worker. If he/she ...

more...


 






Google

Arab Advisors_12th convergence conf

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help