UAE bourses trade in opposite directions

UAE bourses traded in opposite directions on Wednesday but property developers? shares recovered some losses after the news on mortgage caps by the central bank.

Dubai?s benchmark ? DFM ? closed 0.94 points up at 2,915.60 points, fuelled by banks, finance and investment shares.

Emaar shares rose 0.66 per cent to Dh6.13 while Arabtec rose 0.37 per cent to Dh2.71.

Among the gainers, International Financial Advisors rose by 3.10 per cent to Dh1.33, followed by Al Madina by 2.71 per cent to Dh0.720 and Dubai Islamic Bank by 2.70 per cent to Dh4.19.

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NGI suffered the worst by 9.96 per cent to Dh7.59, followed by Agility by 8.93 per cent to Dh10.20 and Shuaa by 4.81 per cent to Dh0.990.

Of the 30 companies traded, 20 rose, seven fell and three remained unchanged. About 289.52 million shares worth Dh454.1 million were traded on Wednesday.

Dubai Islamic Bank was the active value leader and Gulf Finance House was the active volume leader on the Dubai bourse.

Meanwhile, Abu Dhabi ended down 0.38 points to close at 3841.86 points.

Aldar Properties rose 0.37 per cent to Dh2.68 and RAK Properties by 1.41 per cent to Dh0.72.

Among the gainers, Al Ain Al Ahlia Insurance Company rose by 15 per cent to Dh41.40, followed by Asmak by 10.76 per cent to Dh17.50 and Watania by 6.98 per cent to Dh0.92.

Umm Al Quwain Cement Industries suffered the worst by 6.25 per cent to Dh1.35, followed by National Bank of Abu Dhabi by 4.18 per cent to Dh12.60 and Julphar by 3.08 per cent to Dh3.15.

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