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Sellers Lead on the Stock Market this Week

Middle East : 21 March

It was a healthy week on the Stock Exchange which closed with sellers having the upper hand and making good profits according to analysts.

The Dubai Financial Market General Index (DFMGI) and the Abu Dhabi Securities General Index (ADI) are now both in a profit-making situation and this trend looks set to continue for the first few days of this week at least.

Wednesday was a crucial day last week where buyers were able to push market shares higher in the first half of the day which did not happen the previous day. By the end of the days trading however sellers had regained the upper hand and bought shares at a price lower than they had slumped to on Tuesday.

Analysts predict that it will be a sellers market at the beginning of this week and we are likely to see a minimum of two such days before any change begins to set in.  The DFMGI could reach 2,117.33 this analysts predict is not definite but is quite likely.

The ADI was down to minus .006 this week and closed at 2,831.62 and it had advancing issues of 23, its overall volume was at its highest rate since December of 2009.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
19 March

Debt Defaulting Finally Starting to Ease

Current data is now suggesting that company’s are now beginning to be able to get some control back over their debts and that loan defaulting is starting to return to more manageable levels.
This will undoubtedly mean the return to a greater level of confidence among the business and banking community alike. It is important to [...]

17 March

Kuwait’s Banks Doubled Profits in 2009

It was a somewhat mixed bag for the Middle East’s banking sector for 2009 according to a recent Global report. Surprisingly Kuwait’s Banks appear to have doubled their profit capacity for the year.
In the Gulf area their banks saw a 2% increase in gross loans and their NPL loans ( Non Performing Loans) increased by [...]

15 March

Former Chief Executive of a Dubai Bank is Jailed for Corruption

It has just been revealed that a previous Bank Chief Executive has been given a jail sentence totaling three years for corrupt activities while in this position. The Bank in question is the Dubai Islamic Bank. He has also been fined a significant amount which is said to be in the region of $31 million [...]

12 March

Dubai Market Closes on a Seven Week High

It is looking bright and sunny in Dubai’s markets this week as a very prominent company Emaar Properties closed on a seven week high which speculators say has been prompted by the news of Dubai World’s current debt restructuring deal.
The company’s shares rose by almost 3.56% making it their highest value since mid January. Investors [...]

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