Markets show little movement

Abu Dhabi shares finished flat yesterday, as regional markets continue to show little movement during Ramadan.

Abu Dhabi shares finished flat yesterday, as regional markets continue to show little movement during Ramadan. The Abu Dhabi Securities Exchange General Index stayed at 2,494.55. The index is trading within a narrow range, said Hassan el Salah, the head of institutional trading at AlRamz Securities based in Dubai. "Markets will remain range-bound but that's not to say they cannot go either direction," Mr el Salah said.

"Until sentiment improves, through stronger confidence and a better macro story, I do not expect volumes to change drastically." Dana Gas was the most active stock on the exchange, with 15 million shares changing hands. It also finished unchanged at 77 fils yesterday. Aldar Properties, Abu Dhabi's largest developer, jumped 2.8 per cent to Dh2.17. The biggest movers were cement companies, as Gulf Cement dropped 8.8 per cent to close at Dh1.54, while Umm al Qaiwain Cement rose 9.5 per cent to 69 fils. Neither share featured large volumes.

The Dubai Financial Market General Index added 0.9 per cent to 1,487.28. Air Arabia was the most active stock and lost 0.5 per cent to close at 80 fils. Emaar Properties, Dubai's largest developer, added 1.9 per cent to close at Dh3.22. Elsewhere in the region: Kuwait's measure added 0.1 per cent to 6,654.90; Bahrain's index gained 0.4 per cent to 1,415.50; Oman's bourse was flat at 6,276.97; and Qatar's gauge gained 0.2 per cent to 7,062.83. The Saudi Tadawul All-Share Index rose 0.6 per cent to 6,161.76.

halsayegh@thenational.ae