United Arab Emirates shares lower at close of trade; DFM General down 1.29%

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United Arab Emirates shares lower at close of trade; DFM General down 1.29%
Credit: © Reuters.

Investing.com – United Arab Emirates equities were lower at the close on Wednesday, as losses in the Real Estate & Construction , Finance & Investment and Insurance sectors propelled shares lower.

At the close in Dubai, the DFM General lost 1.29% to hit a new 52-week low, while the ADX General index declined 0.03%.

The biggest gainers of the session on the DFM General were SHUAA Capital PSC (DU: SHUA ), which rose 3.74% or 0.040 points to trade at 1.110 at the close. Gulf General Investments Company (DU: GGIC ) added 2.64% or 0.009 points to end at 0.350 and Marka Pjse (DU: MARKA ) was up 2.45% or 0.01 points to 0.54 in late trade.

Biggest losers included Damac Properties Dubai Co PSC (DU: DAMAC ), which lost 5.66% or 0.180 points to trade at 3.000 in late trade. Oman Insurance Company P.S.C. (DU: OIC ) declined 5.56% or 0.100 points to end at 1.700 and Emaar Malls (DU: EMAA ) shed 3.64% or 0.080 points to 2.120.

The top performers on the ADX General were Rak Cement Co (AD: RKCC ) which rose 8.33% to 0.780, Sharjah Cement AD (AD: SCID ) which was up 5.61% to settle at 1.130 and Ad Natl Energy (AD: TAQA ) which gained 2.56% to close at 0.800.

The worst performers were Ad Shipbldg Co (AD: ADSB ) which was down 9.78% to 2.030 in late trade, Union Natl Bk (AD: UNB ) which lost 3.02% to settle at 3.860 and Gulf Cement Co (AD: GCEM ) which was down 1.89% to 1.0400 at the close.

Declining stocks outnumbered rising ones by 20 to 18 and 3 ended unchanged; on the Abu Dhabi, 13 fell and 7 advanced, while 10 ended unchanged on the Dubai Stock Exchange.

In commodities trading, Crude oil for April delivery was down 0.10% or 0.06 to $62.95 a barrel. Meanwhile, Brent oil for delivery in May fell 0.06% or 0.04 to hit $66.48 a barrel, while the April Gold Futures contract rose 0.18% or 2.40 to trade at $1321.00 a troy ounce.

USD/AED was unchanged 0.00% to 3.6729, while EUR/AED fell 0.11% to 4.4872.

The US Dollar Index Futures was up 0.10% at 90.40.

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