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DUBAI - The UAE stock indices showed a downturn yesterday with most sectors contributing to the trend. The market benchmark NBAD General Index shed 23.23  Join our daily free Newsletter

MENAFN - Khaleej Times - 26/07/2004

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DUBAI - The UAE stock indices showed a downturn yesterday with most sectors contributing to the trend. The market benchmark NBAD General Index shed 23.23 points to close at 6024.12 points. While the services sector subindex lost 34.22 points, the banking sector reported 16.33 points and the insurance sector index was down by 28.66 points.

NBAD Emirates Stock Market Indices lost 8.68 points to close at 2,468.29, while Emnex dipped by 13.57 points at 4050.68 points.

On the Dubai Financial Market, although volumes slightly improved yesterday to 5.85 million in 421 deals, values dropped by nearly Dh5 million to Dh47.61 million. The services sector, accounting for most of the traded volumes, recorded transactions of 5.421 million shares valued at Dh35.8 million in 336 deals. Except for Tabreed, all key scrips in this sector suffered slight losses While the Emaar counter traded over 2.66 million shares worth Dh15.62 million in 144 deals, Amlak traded 702,770 shares valued at Dh2.01 million in 51 deals. Tabreed traded 649,486 shares worth Dh10.78 million in 91 deals.

The banking sector, across four counters, traded some 57,600 shares worth Dh5.3 million in 39 deals. Dubai Islamic Bank lost lost another 20 fils, closing at Dh78.45, the Emirates Bank scrip closed 10 fils up at Dh33.10. The National Bank of Dubai closed 60 fils down at Dh134.20. In the insurance sector, there was no trading reported. In the investment sector, while the Dubai Investment scrip again lost to close at Dh16.55, down 25 fils, the Gulf General Investment Company made further gains of 55 fils to close at Dh27.55.

On the Abu Dhabi Stock Market, except for Union National Bank and Emirates Bank International, other scrips in the banking sector suffered slight losses. Abu Dhabi Islamic Bank had a drop of 2.55 per cent and Bank of Sharjah dipped by 1.56 per cent.

In the insurance sector, while Abu Dhabi National Insurance Co remained at the same level, Union Insurance reported a 0.25 per cent gain. Losses were posted by Al Dhafa (2.05 per cent), Al Wathbah National Insurance (3.17 per cent) and Al Khazna Insurance (2.75 per cent). In the Service sector, Etisalat scrip closed 0.47 per cent down at Dh168.70 while the Qtel scrip gained 0.10 per cent to close at Dh200. Gulf General Investment gained 2.04 per cent and Abu Dhabi Ship Building Co. rose by 1.71 per cent.


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