The United Arab Emirates stocks were mixed and confused after Thursday`s close

The United Arab Emirates stocks were mixed and confused after Thursday`s close

By: Oliver Miller | Where To Trade | On:Thursday, 24 November 2016
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While increasing in sectors like Telecoms, Transport and Consumer Staples, the Arabic markets dropped in other sectors like Real Estate and Construction, Finance & Investment, and Services. The sectors had an up and down trajectory, that made the stocks unstable.

DFM General went doen 0.77 percent, ADX General index went higher 0.32%.

Union Properties PJSC, National Central Cooling Co and Gulf Navigation Holding were the best performers on the DFM General session. They gained 4.37%, 1,94% and 1,97% as enumerated. 

Amanat Holdings, Damac Properties Dubai Co and Amalak Fiance had the worst performances in the session. They fell, as enumerated: 4.35%,3.59% and 5.88%.

Best performance on the ADX General was held by Abu Dhabi National for Building Materials Co, that gained 9.09%. 

The company was followed by Esheaq Properties, rising 1.90% and Natl Bk Of Ad, which gained 2.17%.

The worst performance was held by Green Crs Ins, falling 8.47%. Int Fish Farmi was close, with a loss of 6.67%.

But, unfortunately, the rising stocks were numerical outdated by the falling stocks. The Dubai Stock Exchange was invaded by unfavorable stocks , 21 to 12. 

Confusion was even more tangible when the shares in the National Central Cooling rose 1.94%, reaching its 52-week high, compared to Shares in Green Crs Ins dropped to its 52-week low, to 8.47%.

The EUR/AED par rose 0.10%, at 3.8823, while the USD/AED pair fell 0.01%, closing at 3.6728.

The delivery of crude oil for the month of January rose 0.23% to $48.05/barrel. Compared to other commodities trading, where Brent oil for January increased to $ 49.02/barrel.

 

Oliver Miller

Oliver Miller

"Patience is the key for success"

Oliver Miller is one of the best financial analyst with 18 years of online trading experience

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