UAE markets resume gain as bargain hunters return

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Bargain hunters help UAE markets resume gains after a sharp correction in the previous session, while Qatar's bourse falls to a six-week low.

Dubai's Air Arabia rises 1.9 percent, accounting for a third of all shares traded. Emaar Properties adds 0.8 percent, recovering losses from the previous session as investors sold on dividend disappointment.

Dubai's measure climbs 0.6 percent to 1,936 points, up 19.3 percent year-to-date. The index lost 1 percent on Tuesday.

Banks and real estate stocks rise on the UAE capital's index. Abu Dhabi Commercial Bank gains 2.8 percent. The lender raised $1.5 billion through a new dual-trache bond issue.

First Gulf Bank rises 1.1 percent. Sorouh Real Estate advances 2.1 percent.

In Doha, Commercial Bank of Qatar falls 9.4 percent after it goes ex-dividend on a QAR6 per share payout.

National Leasing Holding drops 6 percent, also ex-dividend.

Doha's benchmark declines 0.8 percent to 8,509 points, reaching its lowest since January 15.

Elsewhere, Oman's measure gains 0.2 percent to 5,973 points and Kuwait's benchmark rises 0.2 percent to 6,425 points, resuming trade after a three-day public holiday.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Features & Analysis
Blood on the bourse floor

Blood on the bourse floor

Arabtec’s share price collapse was the catalyst for a huge sell...

Taking stock

Taking stock

Gulf stock markets have seen a dearth of IPOs since the global...

Steering clear of the stock markets

Steering clear of the stock markets

Listing was all the rage three years ago, but IPOs have since...

Most Discussed
  • 24
    World's most pierced man refused entry to the UAE

    Tolerance has its limits everywhere including Dubai and those who considered Dubai a lawless circus were held accountable...so thank you Dubai authorities... more

    Thursday, 21 August 2014 10:51 PM - Khalil
  • 23
    Baby NOT on board?

    Some of you cry babies need to get your own personal apartments on the plane ! You cry more then the babies I have seen in my travels. LOL more

    Thursday, 28 August 2014 9:10 AM - Jim
  • 21
    Israel “must be punished” over Gaza, says Dubai police chief

    This high moral ground that Mick is talking abt sound very familiar. May I remind Mick that the US & its British ally alone killed over 1 million innocent... more

    Thursday, 7 August 2014 4:12 PM - Mathew