(MENAFN- Khaleej Times) DUBAI — Paced by newcomer Deyaar Development, the Dubai Financial Market (DFM) General Index yesterday gained 14.84 points, or 0.4 per cent, to close at 4,190.77.
The Abu Dhabi Securities Market (ADSM) Index posted gains as well, rising 12.54 points, or 0.4 per cent, to 3,429.58.
A property development, leasing and services company owned by Dubai Islamic Bank, Deyaar advanced 2.74 per cent to Dh1.87. It registered over 278 million in traded shares, whose value amounted to Dh516.47 million.
Commercial Bank of Dubai topped DFM with a jump of 4.62 per cent to Dh8.60 while AirArabia, a budget carrier based in Sharjah, advanced 1.7 per cent to Dh1.21.
The other big gainers were the UAE's new telecom operator, du, which increased 1.5 per cent to Dh4.75; and Al Madina Finance and Investment, the 56th listed company on DFM, which advanced 1 per cent to Dh10.60.
Bahrain's Gulf Finance House, one of the region's leading Islamic investment banks, was the biggest loser with a fall of 2.3 per cent to Dh8.60 while National Bank of Dubai declined 1.1 per cent to Dh9. The other big losers were Arab Insurance Group, which dropped 0.6 per cent to Dh3.53; property financier Tamweel, which slumped 0.51 per cent to Dh3.83; and Arabtec Holding, whose development arm Arabtec Construction has won a Dh4.84-billion contract to build the Meydan Racecourse in Dubai, which slipped 0.34 per cent to Dh5.80. National Bank of Fujairah topped ADSM with a rise of 9.5 per cent to Dh4.05, followed by Abu Dhabi Ship Building Co., the only shipyard in the Arabian Gulf that can build and repair sophisticated naval and commercial vessels, which gained 7 per cent to Dh3.23. The UAE's leading aquaculture company, International Fish Farming, lost 9.1 per cent to Dh5.21 while Abu Dhabi National Insurance Co. dropped 5.3 per cent to Dh8.05.
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