United Arab Emirates shares higher at close of trade; DFM General up 0.48%

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United Arab Emirates shares higher at close of trade; DFM General up 0.48%
Credit: © Reuters.

Investing.com – United Arab Emirates equities were higher at the close on Wednesday, as gains in the Services , Telecoms and Finance & Investment sectors propelled shares higher.

At the close in Dubai, the DFM General rose 0.48% to hit a new 1-month high, while the ADX General index climbed 0.42%.

The biggest gainers of the session on the DFM General were Emaar Malls (DU: EMAA ), which rose 2.17% or 0.050 points to trade at 2.350 at the close. Dubai Islamic Insurance Co. (DU: AMAN ) added 1.90% or 0.016 points to end at 0.859 and AJMAN BANK PJSC (DU: AJBNK ) was up 1.75% or 0.020 points to 1.160 in late trade.

Biggest losers included Takaful Emarat PSC (DU: TKFE ), which lost 6.50% or 0.130 points to trade at 1.870 in late trade. Gulf Navigation Holding PJSC (DU: GNAV ) declined 1.77% or 0.020 points to end at 1.110 and SHUAA Capital PSC (DU: SHUA ) shed 1.69% or 0.020 points to 1.160.

The top performers on the ADX General were Abu Dhabi National for Building Materials Co PJSC (AD: BILD ) which rose 7.02% to 0.610, Gulf Pharm Ind (AD: GPHI ) which was up 2.97% to settle at 2.430 and Bank Of Sharja (AD: BOS ) which gained 2.50% to close at 1.230.

The worst performers were Abd Nat Takafu (AD: TKFL ) which was down 9.90% to 4.64 in late trade, Commercial Bank International (AD: CBI ) which lost 9.37% to settle at 0.870 and Rak Cmt & Cons (AD: RAKC ) which was down 9.09% to 1.000 at the close.

Advancing stocks outnumbered falling ones by 19 to 17 and 5 ended unchanged; on the Abu Dhabi, 19 fell and 11 advanced, while 6 ended unchanged on the Dubai Stock Exchange.

In commodities trading, Crude oil for February delivery was down 0.55% or 0.35 to $63.38 a barrel. Meanwhile, Brent oil for delivery in March fell 0.69% or 0.48 to hit $68.67 a barrel, while the February Gold Futures contract rose 0.08% or 1.10 to trade at $1338.20 a troy ounce.

USD/AED was up 0.01% to 3.6730, while EUR/AED fell 0.18% to 4.4931.

The US Dollar Index Futures was up 0.18% at 90.39.

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