United Arab Emirates shares lower at close of trade; DFM General down 1.11%

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United Arab Emirates shares lower at close of trade; DFM General down 1.11%
Credit: © Reuters.

Investing.com – United Arab Emirates equities were lower at the close on Wednesday, as losses in the Insurance , Consumer Staples and Services sectors propelled shares lower.

At the close in Dubai, the DFM General declined 1.11%, while the ADX General index declined 1.55%.

The biggest gainers of the session on the DFM General were Mashreqbank PSC (DU: MASB ), which rose 15.00% or 13.05 points to trade at 100.05 at the close. Dubai Islamic Bank (DU: DISB ) added 0.49% or 0.030 points to end at 6.140 and Dubai National Insurance (DU: DNIN ) was unchanged 0.00% or 0.000 points to 2.590 in late trade.

Biggest losers included National General Insurance Co PSC (DU: NGIN ), which lost 9.73% or 0.18 points to trade at 1.67 in late trade. Islamic Arab Insurance Company (DU: SALAMA ) declined 6.38% or 0.040 points to end at 0.587 and Arabtec Holding PJSC (DU: ARTC ) shed 6.29% or 0.090 points to 1.340.

The top performers on the ADX General were Rak Cmt & Cons (AD: RAKC ) which rose 4.07% to 1.280, Al Khazna Ins (AD: AKIC ) which was up 2.33% to settle at 0.440 and Rak Cement Co (AD: RKCC ) which gained 2.15% to close at 0.950.

The worst performers were Ad Natl Ins Co (AD: ADNI ) which was down 9.43% to 2.400 in late trade, Nat Bk Qaiwain (AD: NBQ ) which lost 9.37% to settle at 2.90 and Abu Dhabi National for Building Materials Co PJSC (AD: BILD ) which was down 8.22% to 0.670 at the close.

Declining stocks outnumbered rising ones by 35 to 2 and 5 ended unchanged; on the Abu Dhabi, 25 fell and 4 advanced, while 3 ended unchanged on the Dubai Stock Exchange.

In commodities trading, Crude oil for March delivery was down 1.00% or 0.53 to $52.65 a barrel. Meanwhile, Brent oil for delivery in March fell 0.99% or 0.55 to hit $54.89 a barrel, while the February Gold contract fell 0.54% or 6.55 to trade at $1204.25 a troy ounce.

USD/AED was unchanged 0.00% to 3.6731, while EUR/AED rose 0.21% to 3.9506.

The US Dollar Index was down 0.28% at 99.99.

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