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Union Properties surge to limit-up

The DFM General Index closed on Sunday 1.70% higher at 2,748.27 points as penny stocks extended their late-summer rally. Investors continued to pick Union Properties (UP) which surged 14.92% to close at Dhs0.624. UP's rival Deyaar Development advanced 14.86%, finishing at Dhs0.572. Gulf General Investment Co. or GGICO surged 9.76% to reach Dhs0.641. Market bellwether Emaar Properties, on the other hand, added a tiny 0.16%, finishig at Dhs6.25. At the NASDAQ Dubai, shares of interior design firm Depa Ltd. fell 2.40% to Dhs0.41. For the first time in post-Ramadan, the trading volume shaved the 1m-mark as 1.4m shares were traded, valued at Dhs1.2m.