It was a broadly uneventful day for the major indices in the UAE, with incremental losses being reported in Dubai whilst the FADGI managed to inch its way to finish just above the line.
- ADNOC Drilling +3.5%
- Agthia Group +2.6%
- Multiply Group -2.1%
ADNOC Drilling was the day’s best performer with shares adding 3.5%. There was no news out but significantly higher than usual trade numbers were reported with 2,387 deals being recorded, around 50% higher than the average number seen last week.
Agthia Group also fared well, adding 2.6% on the day, Again there’s no specific news in play here but transaction volumes were meaningfully higher than we have seen of later.
Multiply Group was the biggest faller of the larger cap stocks, down 2.1%. the stock has been struggling for some time now, trading down to levels not seen in almost two years. Management had mooted the idea of selling off the company’s media division by way of an IPO just a month ago.
