Local markets were mixed as investor caution weighed on stocks on the first day of trading after Eid.
The Abu Dhabi Securities Exchange Index dropped 0.2 per cent to 2,742.52 points and the Dubai Financial Market General Index rose 0.9 per cent to 1,702.71 points.
"It should have been a strong performance after the break but there has been little to no risky movement [and] not much liquidity," said Ameed Kanaan at Al Jazira Financial Securities. "Markets overall have been weak."
Gulf General Investment Company led the gains in Dubai as it reported a doubling of net income to Dh53.5 million in the third quarter against Dh22.2m in the same period last year.
Shares in the company rose 4.9 per cent to Dh0.51, their biggest climb in more than two weeks.
Property stocks strengthened, with Emaar Properties up by 1.9 per cent to Dh3.71.
Shares in Arabtec moved 3.2 per cent higher to Dh1.91 on speculation that the company may report a profit of Dh103m in the fourth quarter against a loss in the same period last year, according to Bloomberg.
In Abu Dhabi, most property stocks ended the day flat but Arkan, which provides construction materials, made big gains as it announced plans to construct a Dh100m dry mortar plant in Al Mafraq. Its shares jumped nearly 2 per cent to Dh2.07.
The Saudi Tadawul All-Share Index extended its two-week lows and slipped 0.3 per cent lower to 6,362.37 points. Elsewhere in the region: Qatar gained 1.31 per cent to 8,189.65; Oman lost 0.08 per cent to 6,601.47 and Kuwait rose 0.26 per cent to 6,968.00.
fhalime@thenational.ae
Company%20profile
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Company%20Profile
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COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
COMPANY%20PROFILE
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The%20specs
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Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Profile of MoneyFellows
Founder: Ahmed Wadi
Launched: 2016
Employees: 76
Financing stage: Series A ($4 million)
Investors: Partech, Sawari Ventures, 500 Startups, Dubai Angel Investors, Phoenician Fund
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Jigra
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
DUBAI%20BLING%3A%20EPISODE%201
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SPECS
Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now
UAE currency: the story behind the money in your pockets
About RuPay
A homegrown card payment scheme launched by the National Payments Corporation of India and backed by the Reserve Bank of India, the country’s central bank
RuPay process payments between banks and merchants for purchases made with credit or debit cards
It has grown rapidly in India and competes with global payment network firms like MasterCard and Visa.
In India, it can be used at ATMs, for online payments and variations of the card can be used to pay for bus, metro charges, road toll payments
The name blends two words rupee and payment
Some advantages of the network include lower processing fees and transaction costs
Venom
Director: Ruben Fleischer
Cast: Tom Hardy, Michelle Williams, Riz Ahmed
Rating: 1.5/5
Korean Film Festival 2019 line-up
Innocent Witness, June 26 at 7pm
On Your Wedding Day, June 27 at 7pm
The Great Battle, June 27 at 9pm
The Witch: Part 1. The Subversion, June 28 at 4pm
Romang, June 28 at 6pm
Mal Mo E: The Secret Mission, June 28 at 8pm
Underdog, June 29 at 2pm
Nearby Sky, June 29 at 4pm
A Resistance, June 29 at 6pm
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
COMPANY%20PROFILE
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Poacher
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The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now