The Dubai Financial Market General Index (DFMGI) closed 0.78% lower at 1,515.02 points Thursday. Nine shares advanced, 14 declined and three closed even.
Emaar Properties PJSC (EMAAR:UH) climbed back Dhs2.98 ($0.81) (up one percent), while investment bank SHUAA Capital PSC (SHUAA:UH) plummeted 7.50%.
Despite the DFMGI’s sharp fall this week (down 4.11%) amid an ongoing flow of bad news from the Euro zone , EFG Hermes’ research said earlier in the day in its SHort Term Update UAE: “We continue to believe in Dubai. We think the last part is irrational and could be washing out. Market will have significant support between current level down to the 1485 level.”
Some 145 million shares were traded today, valued at Dhs219.4 million ($59.68 million).