Whilst the DFMGI managed to hunt out some very modest gains heading into the long weekend break to celebrate Eid-Al-Adha, the performance on the ADX was rather more subdued with the benchmark index falling by around 0.5%.
- Alpha Dhabi +5.3%
- Pure Health Holding +2.6%
- International Holding Company -1.6%
Alpha Dhabi was the biggest gainer of the large cap companies, adding 5.3% on the day. That extends the advance seen during Thursday’s session and the stock is now trading up by more than 15% from the lows seen at the end of last month. Trade volumes on Friday were notably higher than usual but there’s no news out other than the JV announcement from earlier in the week which we mentioned yesterday.
Pure Health Holding is back on the agenda, up 2.6% on Friday. The share price saw strong gains at the start of the week but is struggling to break above the 4.30Dhs level. Volumes were slightly elevated but far from abnormal.
International Holding Company was the biggest faller of the large caps, down by 1.6% on Friday. The company’s share price sat just under the 400Dhs level for most of the year before jumping at the start of the month. Today’s losses came off the back of a quieter than usual session for the stock, but ultimately the movements seen here over the last eighteen months have been within a very well defined range.
With markets closed early next week, this report will resume on Wednesday 19th June.
