United Arab Emirates shares higher at close of trade; DFM General up 0.65%

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United Arab Emirates shares higher at close of trade; DFM General up 0.65%
Credit: © Reuters.

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

At the close in Dubai, the DFM General gained 0.65% to hit a new 1-month high, while the ADX General index climbed 1.12%.

The biggest gainers of the session on the DFM General were Dubai Islamic Insurance Co. (DU: AMAN ), which rose 2.92% or 0.020 points to trade at 0.705 at the close. SHUAA Capital PSC (DU: SHUA ) added 2.91% or 0.030 points to end at 1.060 and Emirates NBD PJSC (DU: ENBD ) was up 2.43% or 0.250 points to 10.550 in late trade.

Biggest losers included Commercial Bank of Dubai P.S.C. (DU: CBD ), which lost 4.76% or 0.200 points to trade at 4.000 in late trade. National General Insurance Co PSC (DU: NGIN ) declined 2.38% or 0.05 points to end at 2.05 and Gulf Navigation Holding PJSC (DU: GNAV ) shed 1.65% or 0.016 points to 0.952.

The top performers on the ADX General were Rak Cement Co (AD: RKCC ) which rose 5.26% to 0.800, Ad Natl Energy (AD: TAQA ) which was up 4.24% to settle at 1.230 and International Holding Company PJSC (AD: IHC ) which gained 4.03% to close at 1.29.

The worst performers were Finance House (AD: FH ) which was down 10.00% to 1.620 in late trade, Waha Capital (AD: WAHA ) which lost 2.22% to settle at 1.760 and Eshraq Properties Co PJSC (AD: ESHR ) which was down 1.61% to 0.6100 at the close.

Advancing stocks outnumbered falling ones by 23 to 15 and 4 ended unchanged; on the Abu Dhabi, 14 rose and 6 declined, while 6 ended unchanged on the Dubai Stock Exchange.

In commodities trading, Crude oil for September delivery was down 0.15% or 0.10 to $68.42 a barrel. Meanwhile, Brent oil for delivery in September rose 0.42% or 0.31 to hit $73.75 a barrel, while the August Gold Futures contract rose 0.45% or 5.50 to trade at $1231.00 a troy ounce.

USD/AED was unchanged 0.00% to 3.6732, while EUR/AED rose 0.08% to 4.2946.

The US Dollar Index Futures was down 0.12% at 94.28.

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