The UAE stock markets on Wednesday ended with significant drops as the Dubai Financial Market index has declined by 2.66 per cent to hit 1,054.23 points, say 28.86 points lower compared to the previous closing. 7,178 transactions were reported in DFM with a healthy trade volume of 99,838,374 shares.
The Abu Dhabi Securities Market lost 1.07 per cent to trade at 5,140.14 compared to the previous closing of 5,195.87 points. 5,737 transactions were reported. 6 stocks advanced while 30 declined.
The sectors on the DFM were all in the red. The Investment lost 2.14 per cent. The Insurance shed 0.6 per cent. Services led losers with a 3.85 per cent decline. The Banking went down by 1.73 per cent.
The sectors on the ADSM ended with drops. The Industrial sector was the biggest loser and posted a 2.06 per cent decrease. The Banking sector posted a 0.36 per cent decline. The Insurance lost 0.07 per cent. The Services index went down 1.71 per cent. The Hotels Index ended with a slight 0.01 regression.
Just five stocks advanced on the DFM. Int. Financial Advisers soared by 4.06 per cent, Islamic Arab Ins. went up by 3.03 per cent, Arab Insurance Group up by 1.31 per cent and Dubai Islamic Insurance climbed 0.87 per cent.
The leading losers on the DFM were TABREED which downed by 3 per cent, Global Investment House which fell by 2.94 per cent, Arab Tech. Construction fell by 2.13 per cent and Dubai Investments eased by 2.11 per cent.
The top advancers on the ADSM did not surpass the 0.80 per cent level. Sharjah Islamic Bank gained 0.77 per cent, National Marine Dredging Co. up by 0.75 per cent and Union National Bank climbed 67 per cent.
The laggards on the ADSM were Asmak which eased by 5.63 per cent each, Fujairah Cement Industries with a 3.91 per cent fall, Umm Al-Qaiwain Cement Industries Co. which dipped by 3.45 per cent. RAK Properties lost 3.32 per cent.
