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Dubai market celebrates Eid with a 1.22% gain

On its last trading day before Eid ul-fitr, which marks the end of the Holy Ramadan, the DFM General Index added another 1.22% to reach 1,492.44 points. Emaar, as the most liquid stock, surged 1.78%, finishing at Dhs2.86. Investment bank Shuaa Capital plummeted 2.12% to Dh0.971. The DFM , the only Arab bourse which has listed its shares for the public, declined by 0.86%. Constantly low trading volumes and the uncertainty over whether MSCI will upgrade the UAE to 'emerging market' from 'frontier market' at the end of the year. Islamic insurer Takaful Emarat gained the most (up 6.21% at Dhs0.65). Around 50m shares were traded, valued at Dhs70.1m.