Abu Dhabi following in Dubai footsteps on profit-taking
Abu Dhabi Joined Dubai market retreating due to profit-taking that followed the imposition of restrictions on the operations of margin to join the UAE stock to Saudi counterpart to decline yesterday, while Kuwait stock exchange greeted the new Government with continued market Manama and Doha and Muscat.
Dubai Continue profit
Dubai stock exchange continued to decline for the third straight session on profit-taking on the back of the market was affected by the restrictions imposed two days ago to margin lending, which is expanding its market in Dubai in particular, the General Index closed down 1.47 percent at 3377.67 points with returned value for the height exceeding 1 billion dirhams in trading 643.14 million shares which raised fears of continued profit-taking. The property sector index fell by 2.08 percent after declining shares the most weight in the indicator's reconstruction by 3.8 percent after the companies determine the February date to convert their bonds. The banking sector index rose 2.06 percent after plummeting shares of Emirates NBD 3.97 percent, and Dubai Islamic Bank by 2.04 percent.
Abu Dhabi In the footsteps of Dubai
In Abu Dhabi, which recorded strong gains during the previous three sessions, the market has seen a wave of profit-taking led the index fall by 1.38 percent at 4394.57 points, and in the footsteps of Dubai property sector led the decline and banks. The banking sector index slipped by 2.25 per cent with first Gulf Bank shares rose 3.75 percent and the NBAD share decline by 1.67 per cent. Real estate sector slipped by 1.18 percent, with declining shares leading House by 1.08 per cent rose by 2.99 per cent. ' Bahrain ' continues to rise Continued market General Manama high today for the third straight session by 0.44 percent at 1255.55 points over the level of 1,250 points and the important support of the market and with higher values and market trading volumes suggesting the possibility of continuing to rise since the beginning of the week. Trading value rose sharply to 1.1 million dinars compared to 154 dinars on Monday due to higher trading volumes to 7.87 million shares versus 674.68 thousand shares and wins the market value of some 30 million shares for a record 7 billion dinars. The industry sector led the market rises by 0.92 percent and the banks index rose by 0.85 percent. The Bank said the shares ' Salam '-the most active in terms of transaction volume-at the forefront of market heights by 9.56 percent closed when 0.1488 dinars after trading of 6.9 million shares. Declining stocks topped the ' United Gulf investment ', down 4.55 percent at 0.1275 dinars.
New Government in Kuwait
Kuwait stock exchange yesterday received moral support by announcing the formation of the new Government and received, up 0.67 percent to close at 7658.94 points, the index only values and volumes of trades retreated from yesterday's levels but remained at high levels compared to the preceding year end trading suffered greatly from the lack of liquidity and the status wait and see the market as a result of internal political changes. Sheikh Sabah Al-Ahmad Al-Sabah Emir of Kuwait yesterday received the Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah Prime Minister who introduced the new Ministers to be sworn before him, trading today amounted to 30.9 million, falling from 35 million today, trading volumes amounted to 331.6 million shares from 376.8 million shares. Most market sectors rose, led by communications which rose by 1.48 percent and the banking sector by 1 percent.