By: Mahmoud Gamal
Dubai-Mubasher: Eight UAE stocks saw an upward trend, despite the wave of declines that hit the local markets in Sunday’s early trades.
Although Abu Dhabi market saw losses, Asmak and Bank of Sharjah increased 5.5% and 0.7% in a row by 12:30pm UAE time.
Abu Dhabi Securities Exchange (ADX) fell 0.8% or 37.9 points to reach 4,352.52 points.
The market saw trading of 37.2 million shares through 526 transactions, with turnover of AED 40.71 million.
Dubai Financial Market (DFM) lost 1.36% or 45.6 points to reach 3,309.9 points.
On the other hand, Gulf Navigation Holding fell 3%, followed by Salam International Investment which lost 1.3%. Also, Drake and Scull International (DSI) shed 1.02%, trailed by GFH, Shuaa Capital and Gulf General Investment Co. (GGICO) which were off 0.8%, 0.3% and 0.16%, respectively.
Turnover reached AED 189.7 million after 221.26 million shares were traded through 2,370 transactions.
The UAE markets did not manage to break important resistance levels amid growing worries about lower oil prices, Ali Al-Anzi, financial analyst at CapCorp Investment Company.
