Dubai bourse sheds early gains to close lower

Dubai’s bourse slipped from Wednesday’s 10-week high, giving back early-session gains as investors booked profits in Emaar Properties. Shares in Emaar were down 1.21 per cent, snapping a five-session rally. The DFM index fell 0.68 per cent to close at 1,535.71 points after hitting a session high of 1551.73. Among the gainers, Shuaa rose 5.36 per cent to close at Dh0.668, followed by Dartakaful by 1.44 per cent to Dh0.563 and Hits Telecom by 1.06 per cent to Dh0.950. Article continues below Among the losers, Gulf Navigation fell 2.82 per cent to Dh0.241, followed by Takaful-EM by 2.53 per cent to Dh0.540 and Deyaar by 2.39 per cent to Dh0.327.. Of the 24 companies traded, seven rose while 17 declined. About 117.37 million shares worth Dh151.84 million were traded yesterday. DFM index has surged 13.47 per cent so far this year and rose 5.77 per cent for the month. Abu Dhabi Abu Dhabi: The Abu Dhabi Securities market (ADX) index rose 0.19 per cent to close at 2468.22 points. Real estate, investment and financial services, and consumer staples sectors lifted the index up Of the 26 companies traded, four rose, eight declined and 14 closed unchanged. About 34.18 million shares worth Dh56.32 million were traded yesterday. Among the gainers, Sharjah Cement and Industrial Development Co rose 4.41 per cent to close at Dh0.71, followed by First Gulf Bank by 1.06 per cent to Dh8.55, and Methaq by 1.01 per cent to Dh1. Among the losers, Ras Al Khaimah Ceramic Co lost 3.67 per cent to Dh1.05, followed by Eshraq by 3.23 per cent to Dh0.30 and Gulf Medical Projects Company by 1.82 per cent to Dh2.16. ADX index has surged 2.73 per cent so far this year and rose 0.83 per cent for the month. Investors are cautious ahead of Ramadan as market activity usually drops during this period. Focus remains on second-quarter earnings. From gulfnews