DFM succeeded in returning to the green box on the last day of the week, and offset part of the losses suffered in the previous day, while the market continued ADX decline, with high negative performance of some bank shares.
In the final outcome of the trading week, managed general indicators of capital markets to maintain their balance, although the loss of the market value of shares traded companies, reached during the past five sessions AED 1.2 billion, closed at 440.3 billion dirhams. The index fell for the UAE financial market to the level of 2963 points, and 0.29% during the week, as a result of decline in some property stocks.
And Emaar, which fell 3% to 5.39 dirhams, and ESHRAQ by 4.8% to 59 fils. Also cast a negative performance of some banking stocks overshadowed transactions, including the frontline First Gulf Bank, which lost 3% of its value and closed at 13.10 dirhams.
Caution returned to the behavior of traders, reflected on the volume of cash in circulation, which fell to $ 1.5 billion dirhams during the week, and by 60%, compared with the previous week, which amounted to 2.5 billion dirhams. The number of shares traded billion shares through 15348 transactions. Despite this atmosphere, but some stocks managed to achieve good gains and reduced losses indicators. Among them was arrow “de” high by 5.5 percent to 4.93 dirhams, Mcharva thus breaking the barrier of 5 dirhams.
Dubai
Returning to the details of the last day of trading this week at the level of the market, the Dubai market has been able to bounce back with the support of requests to buy a slice of heavy stock, some of which have achieved breakthroughs price is the first in more than 52 weeks.
It was the biggest supporter of the market this time, shares of Emirates NBD, which jumped 2.5% to 4.04 dirhams, amid active trading. Also managed by Emaar to return to profitability, rose to 5.44 dirhams, before that reduces the profit of its gains, closing at 5.39 dirhams, and value of transactions exceeded by 64 million dirhams.
In addition to the shares de upward to 4.93 dirhams, has contributed Activity cooling CSS at AED 1.58 to support the market, as well as Dubai Islamic Bank 2.08 dirhams, Air Arabia 0.918 AED, and Drake & Scull 76 fils, and Dubai Investments 91 fils, and Deyaar 0.344 AED and Gulf Navigation 0.251 dirhams.
Shares Takaful insurance without exception strong gains, led by shares safety, which reached 1.07 dirhams, and share gains exceeded safety of 2.2% to 64 fils, and Takaful House shares rose by 3.5% to 0.621 dirhams. As Ajman Bank shares fell to 1.50 dirhams, Union Properties 0.405 dirhams.
It is a new, managed Market General Index Dubai to return to the level of 1910 points, an increase of 0.63% compared with the first session yesterday.
The negative prevailed shares trading on NASDAQ Dubai offered through DFM platform, and drop back to DP World shares closed at 14.05 dollars.
Abu Dhabi
In Abu Dhabi, continue to decline, and at rates higher than the previous day, under pressure from some negative banking and property stocks, as well as Etisalat low for the second day in a row, and closed at 10.20 dirhams. The general index lost 0.75% of market value, the downside to below 3 thousand points again, and closed at 2995 points.
The National Bank of Abu Dhabi the most pressure on the market after it fell to 10.60 dirhams and 3.6%, along with First Gulf Bank, which fell to 13.10 dirhams. As shares fell Sharjah Islamic Bank to 94 fils, while shares stabilized Abu Dhabi Commercial Bank at AED 4, as well as Abu Dhabi Islamic Bank 3.70 dirhams.
In the real estate sector, performance varied Sorouh fell to 1.74 dirhams, and then came ESHRAQ to 59 fils, with only Aldar previous close at 1.40 dirhams, and RAK Properties 56 fils.
Bucked the energy sector overall trend, and achieved good profitability, led by Abu Dhabi National Energy high to 1.35 dirhams, and Dana 47 fils.
83.8 million foreign purchases in Dubai
The total value of foreign purchases of shares in the Dubai Financial Market yesterday 83.81 million dirhams, which constitutes 46.69% of the total value of purchases in the market, while the total value of their sales AED 82 million which constitutes 45.69% of the total value of sales, netted foreign investment about 1.8 million dirhams aggregate buy.
And detailed the value of foreign purchases, non-Arab, from about 39.72 million shares dirhams, while sales amounted to some 40.17 million dirhams. The value of purchases non-Gulf Arab investors 28.86 million dirhams, and the value of sales of 35 million dirhams. As for the GCC investors, the value of purchases 15.23 million dirhams, while sales amounted to 6.81 million dirhams.
Gulf markets
Fell at the end of yesterday’s trading, four indicators GCC capital markets, was at the forefront the Abu Dhabi Securities Market index, while the indices of Dubai and Qatar by 0.63% and 0.32%. The decline in the Abu Dhabi Securities Market index rose 0.75%, followed by Kuwait price index down by 0.16%, then the Bahrain Stock Exchange index rose 0.15%, and was at least MSM decline by 0.05%.
Disclosures
‘Scandinavian’ approves distribution of 15% cash
Assembly approved the company’s Arabian Scandinavian Insurance, at its first meeting yesterday, the distribution of a cash dividend to shareholders by 15% of the capital in 2012, was identified March 31 as the date for entitlement to profits.
17.4 million loss “Green Crescent Insurance”
Losses amounted to Green Crescent Insurance during the past year AED 17.4 million, compared with 43.8 million dirhams a net loss in 2011, a decline in losses per 60.2%, to retreat losses per share to 0.17 dirhams, compared to AED 0.44 in 2011. T mention that the meeting of the Extraordinary General Assembly the company, which was held on 20 November 2012.
Unanimously approved the continuation of the company to carry out its work despite the losses suffered by them. The Assembly also agreed to reduce the capital of AED 250 million to AED 100 million, and writing off 150 million dirhams of the capital, which is the value of the losses incurred by the company until the end of the third quarter of 2012.
Postpone general Dana Gas is normal
Dana Gas was postponed EGM of the company, which was scheduled to take place yesterday, to a lack of quorum for the meeting, and for the second time. It was scheduled to take place the Assembly in the first time on March 14, to approve the restructuring instruments company issued in October 2007, and by issuing instruments of $ 425 million, and instruments convertible into shares at $ 425 million, according to the terms agreed with the campaign instruments.
