Dubai market gains one percent

01/03/2011 00:00 AST

As stocks are lying on the bargain table after weeks of declining Arab markets, the DFM General Index gained one percent to reach 1,424.76. Shares of United Foods jumped 11.11%, closing at six Dirham. Arabtec Construction was the most liquid rising stock (up 3.08% at Dhs1.34), but real estate bellwether Emaar declined further (down 0.27% at Dhs2.66). Gulf General Investment Co. was the top loser (off 3.61% at Dhs0.40). Traded values declined 36% to Dhs140.88m as 100.39m shares changed hands. Eighteen shares advanced, nine declined and one remained even. The DFM management disclosed performance figures for February today. The statement says: "Dubai Financial Market overall performance decreased by 8.1% to reach 1410.7 points at the end of February compared to 1534.4 points at the end of January. The market capitalization decreased at the end of this month by 4% to reach Dhs185.3bn compared to Dhs193bn at the end of January."


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DFM 3,091.15 -9.24 (-0.30%)

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