United Arab Emirates shares lower at close of trade; DFM General down 1.97%

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United Arab Emirates shares lower at close of trade; DFM General down 1.97%
Credit: © Reuters.

Investing.com – United Arab Emirates equities were lower at the close on Thursday, as losses in the Finance & Investment , Real Estate & Construction and Banking sectors propelled shares lower.

At the close in Dubai, the DFM General declined 1.97%, while the ADX General index lost 0.93%.

The biggest gainers of the session on the DFM General were Gulf Navigation Holding PJSC (DU: GNAV ), which rose 4.32% or 0.040 points to trade at 0.965 at the close. Islamic Arab Insurance Company (DU: SALAMA ) added 4.26% or 0.027 points to end at 0.661 and DXB Entertainments (P.J.S.C.) (DU: DXBE ) was up 0.28% or 0.001 points to 0.361 in late trade.

Biggest losers included Takaful Emarat PSC (DU: TKFE ), which lost 5.11% or 0.090 points to trade at 1.670 in late trade. Drake & Scull International PJSC (DU: DSI ) declined 4.69% or 0.019 points to end at 0.386 and Damac Properties Dubai Co PSC (DU: DAMAC ) shed 4.43% or 0.090 points to 1.940.

The top performers on the ADX General were Gulf Pharm Ind (AD: GPHI ) which rose 1.00% to 2.020, Eshraq Properties Co PJSC (AD: ESHR ) which was up 0.53% to settle at 0.5710 and Methaq (AD: METH ) which gained 0.26% to close at 0.778.

The worst performers were Rak Cement Co (AD: RKCC ) which was down 5.56% to 0.680 in late trade, Agthia Group (AD: AGTH ) which lost 3.75% to settle at 3.85 and Union Natl Bk (AD: UNB ) which was down 2.44% to 4.800 at the close.

Declining stocks outnumbered rising ones by 26 to 7 and 5 ended unchanged; on the Abu Dhabi, 16 fell and 3 advanced, while 6 ended unchanged on the Dubai Stock Exchange.

In commodities trading, Crude oil for November delivery was down 1.72% or 1.26 to $71.91 a barrel. Meanwhile, Brent oil for delivery in December fell 1.88% or 1.56 to hit $81.53 a barrel, while the December Gold Futures contract rose 1.14% or 13.60 to trade at $1207.00 a troy ounce.

USD/AED was up 0.01% to 3.6732, while EUR/AED rose 0.47% to 4.2506.

The US Dollar Index Futures was down 0.37% at 94.87.

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