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Tuesday, 13 January 2009

UAE equity markets seesaw in lacklustre trading

Dubai: UAE stock markets continued to move sideways without any signal towards a trend, either negative or positive, as retail investors held sway in what was a lacklustre trading on Monday.

Only 197.77 million shares, valued at Dh308.08 million, changed hands on the Dubai Financial Market exchange. The DFM General Index moved up 1.23 per cent to close at 1,757.02.

The real estate index, led by Emaar Properties, Arabtec, Union Properties, rose 3.01 per cent. Emaar advanced 2.90 per cent to Dh2.48; Arabtec was up 4.66 per cent to end at Dh2.02. Union Properties increased 3.85 per cent to Dh0.85. Air Arabia gained 3.26 per cent to end at Dh0.95 and Dubai Financial Market company advanced 4.51 per cent to close at Dh1.39.