UAE regains Dhs12bn out of Dhs120bn

Doha ended the week up by 4% followed by Muscat up 2.8%, Abu Dhabi 2.6% and Dubai 1%, while Saudi Tadawul fell by 3.4%, Bahrain went down 1.6% and KSE 0.70%.

Today Gulf markets saw mixed results with Doha, Dubai and Abu Dhabi up by 2.1%, 1.9% and 0.67% respectively, while Kuwait, Muscat and Bahrain fell by 1.7%, 0.58% and 0.87% respectively.

UAE sees weekly trading of Dhs12.8bn

According to the UAE stock market authority, the weekly trading value rose to Dhs12.8bn compared to Dhs10bn last week.

DFM trading reached Dhs7.2bn representing 59% of trading while ADX reached Dhs5bn representing 41%.

Meanwhile Emaar has dominated 30.5% of the total trading, which reached Dhs2.2bn, and rose by 4% to Dhs7.28, while Al Khazna topped the fastest rising shares by 25.4% and Umm Al Quwain Cement fell the most, declining by 22.8%.

Dubai: Shuaa up despite penalties

Dubai financial market index kept fluctuating today to finally rebound after support from leading shares Emaar, DIB and Arabtec.

Extensive buying have been conducted on Emaar shares pushing the share above Dhs7 to Dhs7.28, up 0.83% while Arabtex rose by 6.2%.
Shuaa Capital changed its trend from sharply declining, following $1m penalty imposed by DFSA on the DP World case, to rise 5.5% to Dhs4.17.

Abu Dhabi: Three shares behind the rise

Three shares dominated 83.5% of the total ADX trading which reached Dhs1.4bn; Methaq, Aldar and Sorouh.

Banks saw record rises, particularly Union National Bank which rose by 8.1% to Dhs6.50 after a positive rating by Global putting its fair price at Dhs7.89.

Kuwait: National Industries traded below IPO price

Kuwait stock exchange lowered its losses after the index was trading below 12.500 benchmark, before external forces intervened pushing it again up to 12.568.

For the second consecutive day, Kuwait Finance House fell by 4.4% to KD2.160 while NBK fell by 2.2% and Zain by 2.6%.

Meanwhile, National Industries Company decided to extend its 25% IPO to increase capital until the end of the month after its market value fell to less than the IPO price, closing down by 3.3% to KD0.870 while the IPO price is KD0.900 per share.

Doha: Biggest loser but biggest weekly winner

Doha market registered the biggest decline among all GCC markets despite being the biggest winner of the week.

The decline in Doha was led by Industries Qatar which fell by 0.82% while banks retreated by 4.5% for Qatar Commercial, 5.5% for Doha Bank and 1.6% for Qatar Islamic Bank.

Muscat: Dhofar Bank registers the biggest fall

The decline at Muscat was led by Dhofar bank, which fell sharply by 8.7% while Muscat bank rose up by 0.36%.

Dhofar bank fell despite setting a date to increase its capital by 30%.
Omantel which is the second heaviest share fell by 0.56% to OR1.946 while Gulfar fell by 0.77%.

Bahrain: GFH continues downward trend

Bahrain stock market, which gave up its 2.500 benchmark continued to get pressure form banks, investment and services shares pushing all shares down except Al Salam and Bank of Bahrain and Kuwait.

Ithmaar saw a sharp decline of 3.3% dominating trading along with Al Khaleeji, GFH and Al Salam 82% of the total traded shares which reached around one million, while GFH failed to stop its decline down by 3.2%.