UAE bourses move in opposite direction

The Dubai Financial Market (DFM) index rose nearly 1 per cent Monday after regaining the psychological 1,500 level on Sunday due to increase a in risk appetite and traders taking position ahead of the declaration of second quarter company earnings.

However, decline in European and Asian stocks capped the upside on the market, though trading volumes increased.

Analysts say economic slowdown in the US, China and Europe will keep the market range bound, near-term. They also say second quarter company earnings would broadly set the market?s direction.

The DFM index closed at 1,516.53, up 0.93 per cent. Around 152.74 million shares, cumulatively worth about Dh158.56 million, were traded on the stock market.

via gulfnews : UAE bourses move in opposite direction.