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Dubai Market plummets 4.32%

The DFM General Index dived over 6.4%, as a direct panic sell out due to the state crisis in Egypt. But the local market eventually recovered and closed on high volumes 4.32% lower at 1,543.02. Market bellwether Emaar Properties posted the largest loss among the most actively traded shares, closing 8.26% lower at Dhs3.11. Gulf General Investment Co., known as GGICO, bucked the market trend, gaining 4.17% to reach Dhs0.50. Over 269.64m shares worth Dhs389.7m traded hands. Five stocks gained, while 21 shares lost value.