Dubai market is up, up and away

23/04/2014 14:49 AST

After crossing the barrier at 5,000 on Tuesday, April 22, the Dubai Financial Market General Index (DFMGI) closed 2.31 per cent higher at 5,133.95 points, despite bearish market breadth. Twelve shares advanced, while 17 declined. More than one billion shares worth AED3.775 billion changed hands. Arabtec edged up by 10.67 per cent to hit AED8.71. Emaar hit AED11 on an intra-day basis, but declined then and closed 1.86 per cent higher at AED10.95. Its local rival Union Properties plummeted by 3.58 per cent to AED2.69. Drake and Scull International (DSI) ended up by 1.12 per cent at AED1.80. Earlier in the day, the regional real estate maintenance and construction firm revealed that it had been awarded a turnkey project worth AED147 million ($40.08m) to build a mixed-use development in Algiers, Algeria. “Under the terms of the contract, the DSI will undertake the civil construction portion of the project, which covers a total built-up area of approximately 66,500 square metres. The development comprises multi-storey residential units, along with commercial retail space, in the capital city,” reads a company statement.


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SABIC 114.77 5,915,941

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ADX 4,608.97 23.76 (0.52%)

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ADIB 3.91 0.02 (0.51%)
FAB 11.95 0.20 (1.70%)
ADCB 6.60 0.05 (0.76%)
CBI 0.87 0.11 (14.47%)
FGB 0.00 0.00 (0.00%)

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DFM 3,091.15 -9.24 (-0.30%)

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EMIRATESNBD 10.65 0.05 (0.47%)
EIB 9.50 0.00 (0.00%)
EMAAR 5.61 -0.03 (-0.54%)
EMAARMALLS 2.16 0.00 (0.00%)
DIB 5.30 0.00 (0.00%)

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