The DFM General Index added 0.60%, closing at a one-week high at 1,496.56 points Tuesday. The gauge rose over one percent in the first hour of trading but stocks pared gains after European bourses became fickle when Fitch cut Japan's rating by one notch to A+ with negative outlook because of the Far Eastern country's negligence in reducing its debt. Takaful Emarat gained the most (up 9.12% at Dhs0.598). The Dubai-based Islamic insurer has recetly increased its product portfolio by introducing saving plans for families as well as insurances for blue collar workers. Emar gained slightly but remained below a key resistance level at Dhs3, closing at Dhs2.97. Islamic home financing company Tamweel fell 0.85% to Dhs1.17. With oil prices stabilising risng above $92 per barrel (U. S. crude), most GCC markets continued to recover today. In Dubai, some 122.6m shares were traded, valued at Dhs160.m.
Key Sectors Turn QE Index Green
The QE Index continued pacing its way higher throughout the day to close its trading in the green territory at 9,085.9 on Wednesday 22nd May 2013, achieving 0.54 percent or 48.95 points for the sessi
ADX Index Dips but Volume Improves
The ADX General Index spending most of the session below the break – even line closed in the red at 3,503.38 points on Wednesday 22nd May 2013. The index trimmed 6.26 points or 0.18 percent for the e