Dubai stocks June 7th (Re-post)

Some observations:

The rally in Dubai Financial Market has become broad-based, whereas in February to April it seemed confined to a handful of stocks, mainly ARTC. Volume on the exchange has increased tremendously the past couple of weeks. DFM Exchange volumes the past two weeks have been consistently massive relative to the past 9-10 months, at least.

DFMGI (General Index) has gained 19.55% in 9 trading session. The gain has been 25.19% in 15 trading sessions

EMAAR, an index heavyweight, has carried the market to the next level.

As a reminder to keep perspective, and to avoid being blown away by misleading news of a local economic recovery to pre financial crisis valuations that were skewed positively anyway, take note that:

Namibia Overall Index climbed 53.4% from lows early March to highs (618) early June, in 3 months.