Gulf stock markets rose on Tuesday, led by Dubai, as firmer oil prices and stronger Asian bourses encouraged Gulf investors to buy shares back after heavy sell-offs in the past several days.
Dubai's index, which had plunged 11
Dubai's index slumped to a fresh 29-week low as local investors cashed out ahead of the weekend and foreign funds found little reason to enter the market at current valuations.
Emirates NBD fell 3 percent, Drake & Scull shed 3.7
The Dubai Department of Economic Development (DED) has launched its quarterly consumer confidence index (CCI) to evaluate consumer impressions on the state of the economy and the key drivers of consumer behaviour.
Based on the findings of
Dubai's index slumped to fresh 21-week lows, falling 0.6 per cent to 1,534 points, its lowest finish since September 2 giving back early gains to extend a slump sparked by unrest convulsing Egypt.
UAE's largest developer Emaar Properties,
Dubai's index advanced to a three-week high on Sunday, led by property-linked stocks, as investors built new positions on the first trading day of 2011.
Other regional bourses also rose, with the exception of Egypt, whose benchmark dro
Dubai's main stock index posted its biggest decline in almost a month on Sunday after disappointing earnings from two of its most valuable companies, Emaar Properties and Dubai Financial Market.
The index fell 1.4 per cent to 1,507 poi