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Emaar rises 0.78%, says it sees no impact from India penalty

The DFM Index gained 0.36% Monday, closing at 1,753.31. Market bellwether Emaar (up 0.78% at Dhs3.88) said today would not see any impact by a penalty by the Indian authorities who said it would penalise the Dubai-based developer for 'delays and defects' in the Commonwealth Games village, constructed by Emaar, Thomson-Reuters reported. Traded value increased 31% to Dhs153.53m as 112.2m shares changed hands. Emirates NBD, the Middle East's largest lender by assets, closed unchanged at Dhs3.00. Earlier in the day, Emirates NBD announced that it achieved a net profit of Dhs1.9bn for the 9 months ended 30 September 2010, down 39% from the same period in 2009. Earnings per Share of Dhs0.31 for the 9 months ended 30 September 2010 (Q3 2009 year-to-date: 0.56).