Beaten boys join Dubai market recovery, Emaar at 2.5-month high
The Dubai stock market index DFMGI gained for the second session straight on Tuesday, August 19, closing 0.55 per cent to hit 4,852.06 points. Steadily approaching the 5,000 points, which the gauge has seen the last time on June 8, shares coming under pressure recently joined the mini-rally. Shuaa Capital, for example, added 1.64 per cent to close at AED1.24. DFM, the shares of the Dubai stock market, advanced by 1.64 per cent to end at AED1.24. With a price-earnings ratio of 95, the DFM is a rather expensive pick compared to other listed financial investment firms listed (average PE: 37.63, according to DFM market data).
Emaar surged 1.50 per cent, reaching AED10.30.
The shares of logistics firm Aramex lost the most, finishing 3.67 per cent lower at AED3.15.