UAE bourses see profit-taking after holidays

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DUBAI

UAE bourses witnessed slight profit-taking on Wednesday as traders returned after a long holiday. The Dubai Financial Market general index closed 0.22 per cent lower at 2,831.69, falling from a high of 2,857.85. “Short term traders may look to trade the higher range,” Shiv Prakash, senior analyst with First Abu Dhabi Bank Securities said in a note.

Traded value came in at Dh164 million, up from a 30-day average of Dh130 million. Emaar Properties closed 0.57 per cent lower at Dh5.27. DP World closed 3.16 per cent lower at Dh13.80. Dubai Islamic Bank closed 0.58 per cent lower at Dh5.17. Air Arabia closed 0.83 per cent higher at Dh1.21.

The Abu Dhabi Securities Exchange general index closed 0.85 per cent lower at 5,053.77. Abu Dhabi Commercial Bank closed 0.24 per cent lower at Dh8.45. First Abu Dhabi Bank closed 0.93 per cent lower at Dh14.96. Etisalat Group ended 1.11 per cent lower at Dh16.10.

Saudi Tadawul index was 0.79 per cent higher at 8,550.23. Al Rajhi Bank was 0.30 per cent higher at 67.20 Saudi riyals.

National Commercial Bank was 0.59 per cent higher at 51.50 riyals. Elsewhere in the Gulf, the Muscat MSM 30 index closed 0.60 per cent higher at 3,861.51.

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