Resilient Dubai market corrects the correction

April 7, 2014 6:37 pm

The Dubai Financial Market General Index (DFMGI) closed 1.13 per cent higher at 4,641.31 points on Monday, April 7. Gulf General Investment Company (GGICO) surged by 9.22 per cent to AED2.25. Meanwhile, banks’ overall performances were weak. Investment bank Shuaa Capital fell by 4.12 per cent to AED1.63. The UAE’s first lender Emirates NBD slipped by 0.11 per cent to AED8.99. Emaar went back to AED10.10, up by 1.71 percent. Dubai Ports World, which is listed on the DFM, the NASDAQ Dubai and the London Stock Exchange, surged by 6.98 per cent to hit $19.30. Approximately 950 million shares were traded, valued at AED2.23 billion. The DFMGI has gained 155 per cent in the past 12 months.

Gérard Al-Fil