With National Day looming perhaps unsurprisingly investors were booking profits this morning rather than speculating with only eight million dirhams in trading changing hands.
Traders put profit before risk ahead of National Day
Abu Dhabi investors booked profits in the early morning trading today ahead of the National Day holiday.
The Dubai Financial Market and the Abu Dhabi Securities Exchange will be closed tomorrow and will recommence trading on Monday.
The Abu Dhabi Securities Exchange General Index dipped 0.2 per cent to 2724.51 at 11:10am. Trading remained very thin, only the equivalent of eight million dirhams in trading changed hands.
Abu Dhabi National Company for Building Materials, or Buildco, lost 3.4 per cent to Dh1.70. Abu Dhabi National Energy, or Taqa, lost two per cent to Dh1.45. Abu Dhabi National Takaful, an insurance firm, lost 10 per cent to Dh3.51.
The Euro rose against the US dollar for the first time in a week by 0.07 per cent to 1.30 on speculation that European policy makers will agree to take further steps to contain the debt crisis.
Dubai Investment gained one per cent to 88 fils a share. Arabtec Holding, a Dubai based contractor gained half a per cent to Dh1.83. Dubai Financial Market Company, the only publicly traded bourse in the Arab world, added 0.6 per cent to Dh1.53.
Elsewhere in the region, Kuwait's measure dipped 0.6 per cent to 6849.80. Bahrain's index lost 0.1 per cent to 1435.41. Oman's bourse gained half a per cent to 6629.57. Qatar's index dipped 0.2 per cent to 8119.53. The Saudi Tadawul All-Share Index lost 0.2 per cent to 6318.50