Dubai Eid booking transforms into Eid rally
After the Dubai bourse fell for the last two sessions last week, the Dubai equity market index DFMGI rebounded by 1.90 per cent on Sunday, July 27, closing at 4,747.95 points.
Arabtec as the most liquid share inched up by 1.25 per cent to hit AED4.05. Earlier in the day, the construction holding firm said its net income in the second quarter increased by 11 per cent amounting to AED103 million or $28.06 million. The half-year net profit edged up by 55 per cent to hit AED240 million ($65.40 million).
Like the market index, Emaar gained 1.90 per cent. The shares edged up to AED9.70.
Trading volumes dived further ahead of Eid holidays, as only 317 million shares were traded, valued at AED627.6 million (compared to AED2.2 billion a week ago).