Dubai market rally shows no signs of exhaustion-continued

February 22, 2012--The DFM General Index hit 1,608.92 points (up 0.80%), the highest closing since mid-June 2011, although bellwether Emaar declined slighly (off 0.65% at Dhs3.05.
But market breadth remained solid, as 22 shares advanced and seven declined. Trading volumes also confirmed the current strength of the Dubai bourse, as 464m shares worth Dhs420m were traded. Real estate district cooling provider Tabreed soared 14.90% to reach Dhs0.911. Having gained 18.80% year to date, the highest advanced aming all Arab stock exchanged, the DFM might be technically ripe for a correction, but the market strength and the positive economic outlook for the emirate of Dubai speaks another language (as yet).

Source: AME Info


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