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Dubai market soars as bargain hunters move in

The Dubai Financial market posted its highest day-gain for months, closing up 2.15% at 1,601.55 points. Cheap valuations and the new trust in Dubai from international investors who show rising interest in Dubai government bonds raised the sentiment. Emaar jumped 3.21% to Dhs3.22. The DFM itself, the sole Arab market which is listed, soared almost five percent to Dhs1.27. Gulf Finance House dived 7.25% to Dhs1.28. Twenty-one stocks gained, fived ended lower and five closed flat.