Dubai market storms 1,600-barrier, gains 1.56%
- United Arab Emirates: Wednesday, September 19 - 2012 at 13:54
The DFM General Index ended 1.56% higher at 1,616.39 points representing the gauge's highest level since May 1 2012. The surge was triggered by bullish markets in Asia after Japan's central bank joined the U. S. Fed's easing policy on Wednesday mornig by pumping an additional 10 trillion Yen ($126bn) into its asset-purchasing fund. Emaar jumped two percent to hit Dhs3.63. As trading volumes soared, DFM shares joined the rally and added 4.52% to close at Dhs1.04. Commercial Bank of Dubai slipped 1.70% to Dhs2.90. Some 256m stocks were traded, valued at Dhs23.6m. 18 out of 30 securities traded advanced, while 8 declined.
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