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Dubai market cracks 1,500 points, Emaar outperforms

The DFM General Index gained Sunday 0.77% to close at 1,502.54 points. Emaar Properties was the share of the day as the most liquid security egded up by 1.61% to hit a 2.5-month high at Dhs3.15. Earlier in the day, Emaar said it successfully executed the issuance of a $500m sukuk al-ijarah with a 7-years duration under its $2bn trust certificate programme. The Islamic bond was prices at 6.70% or at 519.3 bps over 7-years U. S. dollar Mid-Swaps. Fourteen shares advanced, while eight declined and four closed even. Around 86m stocks worth Dhs131m changed hands.