United Arab Emirates stocks lower at close of trade; DFM General down 1.61%

Category: Stock Market

United Arab Emirates stocks were lower after the close on Monday, as losses in the Insurance, Banking and Consumer Staples sectors led shares lower.At the close in Dubai, the DFM General declined 1.61%, while the ADX General index lost 0.88%.The best performers of the session on the DFM General were National Cement Company P.S.C. (DU:NCC), which rose 14.92% or 0.440 points to trade at 3.390 at the close. Meanwhile, Drake&Scull International PJSC (DU:DSI) added 2.03% or 0.011 points to end at 0.554 and Air Arabia PJSC (DU:AIRA) was up 0.78% or 0.010 points to 1.300 in late trade.The worst performers of the session were Oman Insurance Company P.S.C. (DU:OIC), which fell 8.50% or 0.130 points to trade at 1.400 at the close. Takaful House (DU:DTKF) declined 4.90% or 0.025 points to end at 0.485 and Dubai Islamic Bank (DU:DISB) was down 4.06% or 0.220 points to 5.200.The top performers on the ADX General were National Marine Dredging PSC (AD:NMDC) which rose 7.06% to 4.85, Rak Ceramics (AD:RKCE) which was up 1.76% to settle at 3.46 and Commercial Bank International (AD:CBI) which gained 1.00% to close at 2.02.The worst performers were Green Crs Ins (AD:GCIC) which was down 9.41% to 0.770 in late trade, Natl Bk Of Ad (AD:NBAD) which lost 7.20% to settle at 7.61 and Arkan Building Materials Co PJSC (AD:ARKN) which was down 4.71% to 0.8100 at the close.Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 24 to 8 and 4 ended unchanged; on the Abu Dhabi Stock Exchange, 13 fell and 8 advanced, while 10 ended unchanged.Shares in Oman Insurance Company P.S.C. (DU:OIC) fell to all time lows; losing 8.50% or 0.130 to 1.400.Crude oil for July delivery was up 0.59% or 0.29 to $49.62 a barrel. Elsewhere in commodities trading, Brent oil for delivery in August rose 0.72% or 0.36 to hit $50.31 a barrel, while the August Gold contract fell 0.76% or 9.20 to trade at $1207.50 a troy ounce.USD/AED was unchanged 0.00% to 3.6730, while EUR/AED rose 0.23% to 4.0910.The US Dollar Index was down 0.01% at 95.72.