Dubai market index stuck beneath 5,000 points

August 26, 2014 6:00 pm

Investors acted in a more cautious way on Tuesday, August 26, sending the Dubai Financial Market General Index DFMGI up by 0.09 per cent to 4,974.51 points, up by 0.14 per cent.  While backwind form the US, where the S&P 500 index touched 2,000 points for the first time on Monday – due to Fed chairperson Janet Yellen’s announcement to keep interest rates low for the time being – fickle Asian markets on Tuesday morning weighed down on the sentiment.

Shares of National General Insurance gained the most, ending up by 11.11 per cent at AED4.00. Emaar regained 0.45 per cent to hit AED10.45. Emirates NBD, the first bank in the UAE, slipped 1.60 per cent to AED9.40. Shuaa Capital did a last-minute run and turned a 2.30 per cent day loss into a 0.76 per cent gain, closing at AED1.32.

Gérard Al-Fil