UAE stock performance

UAE, 16 August [] – United Arab Emirates stocks were lower after the close on Sunday, as losses in the Insurance, Consumer Staples and Finance & Investment sectors led shares lower.

At the close in Dubai, the DFM General fell 1.38% to hit a new 1-month low, while the ADX General Index fell 1.26%.

The best performers of the session on the DFM General were Damac Properties Dubai Co PSC (DU:DAMAC), which rose 0.85% or 0.03 points to trade at 3.56 at the close. Meanwhile, Takaful House (DU:DTKF) added 0.83% or 0.005 points to end at 0.607 and Emirate Integrated Telecom Co PJSC (DU:DU) was up 0.38% or 0.020 points to 5.280 in late trade.

The worst performers of the session were Islamic Arab Insurance Company (DU:SALAMA), which fell 8.17% or 0.049 points to trade at 0.551 at the close. National Cement Company P.S.C. (DU:NCC) declined 6.94% or 0.250 points to end at 3.350 and Arabtec Holding PJSC (DU:ARTC) was down 5.38% or 0.120 points to 2.110.

The top performers on the ADX General were Gulf Pharm Ind (AD:GPHI) which rose 6.23% to 2.73, Sharjah Cement AD (AD:SCID) which was up 3.96% to settle at 1.05 and Arkan Bld Mt C (AD:ARKN) which gained 2.00% to close at 1.02.

The worst performers were Abd Nat Takafu (AD:TKFL) which was down 9.97% to 5.69 in late trade, Natl Co Bldg M (AD:BILD) which lost 6.15% to settle at 0.610 and Dana Gas(AD:DANA) which was down 5.17% to 0.550 at the close.

Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 23 to 3 and 1 ended unchanged; on the Abu Dhabi Stock Exchange, 17 fell and 6 advanced.

Shares in National Cement Company P.S.C. (DU:NCC) fell to 52-week lows; losing 6.94% or 0.250 to 3.350. Shares in Arabtec Holding PJSC (DU:ARTC) fell to 52-week lows; falling 5.38% or 0.120 to 2.110.

Crude oil for September delivery was down 0.24% or 0.10 to $42.13 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 1.81% or 0.90 to hit $48.73 a barrel, while the December Gold contract fell 0.13% or 1.40 to trade at $1114.20 a troy ounce.

USD/AED was unchanged 0.00% to 3.6730, while EUR/AED fell 0.37% to 4.0813.

The US Dollar Index was up 0.25% at 96.61.