Gulf stock markets rose on Tuesday after oil prices edged up and mortgage company Amlak Finance, which dominated activity in Dubai, pared early losses to close flat as it resumed trading following a suspension of nearly six years.
Dubai's bourse has outpaced other Gulf markets by a wide margin in terms of companies' first-quarter profit growth, data show, supporting its position as the top performer in the region.
The emirate's benchmark soared
A sense of euphoria can be felt as you walk onto the Dubai Financial Market's (DFM) trading floor. Excited investors sit huddled at tables, eyes fixed on trading screens. Occasionally the floor erupts in applause as certain stocks shoot up t
Dubai's bourse posted its highest daily gain since late January on Monday as investors scooped up shares of real estate and construction companies on hopes for increased dividend payouts.
The Dubai benchmark rose 2.9 percent t
Bulls in Dubai were strong until the last minute of trading in 2013 with the shares index recording its biggest annual gain in eight years, while all other regional markets also climbed to end the year on a positive note.
Year-to-date gains by Dubai's main stock index rose above 100 per cent on Tuesday as investors, positioning for full-year earnings, pushed real estate and bank stocks higher. Most other regional markets also rose.
The Dubai in
Dubai-listed Air Arabia and mortgage provider Tamweel headed losers as the emirate's index slumped to a four-month low, with downbeat global sentiment spurring UAE investors to reduce risk.
Air Arabia fell 4.5 percent to its low
Dubai's bourse made its largest one-day gain in 27 months, rebounding after last week's savage profit-taking, with investor sentiment still bullish.
The emirate's benchmark jumped 4.7 percent to 1,687 points, its largest one-day advance s