Dubai market finishes the week 0.79% lower

24 June 2010

The DFM Index opened in the green but lost momentum and stabilized only during the last two hours of trading, ending 0.79% lower at 1,538.98 points. Shares of the DFM itself declined by 1.27% (closing at Dhs1.55. Due to low trading volumes and the absent of IPOs, the DFM stock lost 17 percent during the last six months. A Credit Suisse Global Research report from today however notices that stock market corrections tend to be shorter and subsequent rebounds stronger as the world economy is in a recovery phase. Trading value increased by 10% to Dhs197.18m at the DFM and trading volumes surged 22% as almost 195m stocks changed hands. Emaar (off 2.10% at Dhs3.26) was the most liquid share.

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