Dubai shares limped into positive territory on Thursday, on the quietest day of trading on the Emirate’s exchange in more than two weeks.
The Dubai Financial Market General Index rose by 0.7 per cent to 3,450.89, led by gains from heavyweight stocks Emaar Properties and DIB.
Emaar Properties closed up 2.22 per cent at Dh6.44, while DIB ended up 1.62 per cent.
However just 106 million shares traded on the exchange during the day, less than half the daily average for the year to date, suggesting little underpinning to the recovery in prices.
Shares in United Kaipara Dairies ended the day unchanged at Dh9.08 after the company announced third quarter profits of Dh4.165 million, compared with a loss of Dh9.214m in the same period last year.
Dubai’s headline index closed down 1.51 per cent compared with last Thursday, the fourth consecutive week the index has ended in the red.
Shares in the capital meanwhile ended virtually unchanged at 4,262.80, on a day when just 12 stocks saw different prices at the close of trading.
Gains by Aldar Properties and RakBank offset losses by NBAD and Dana Gas.
Shares in The National Investor, listed on Abu Dhabi’s secondary market, ended the day unchanged (and untraded) at 72 fils after the company announced an interim loss of Dh15.95m for the first six months of the year.
The index closed down 1.37 per cent for the week, its fourth consecutive weekly decline.
jeverington@thenational.ae
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