Dubai bourse extends rally despite negative market breadth

The Dubai Financial Market General Index (DFMGI) rose 1.60% to reach 2,108.63 points Sunday amid a solid turnover. Eleven shares advanced, while 12 dedeclined. Some 395m shares worth Dhs535m changed hands, driving DFM shares higher (up 1.67% at Dhs1.22). Emaar advanced 1.83% to hit Dhs5.55. Earlier in the day, property broker CBRE Richard Ellis said the recent increase in real estate prices in Dubai might be overstatetd as the rush for new units (such as Emaar’s Reem development) might indicate an increased share of speculation. Profit takings dragged Shuaa Capital lower by 3.28% to Dhs0.59. Shuaa gained around 11% in value since April 1.

via Dubai bourse extends rally despite negative market breadth | Finance and Economy | AMEinfo.com.

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