Dubai's small-caps help the bourse extend gains as retail investors dominate, but elsewhere Gulf markets close
mixed amid a lack of local drivers. There is little institutional activity as many investors are away on holidays.
Deyaar Development and Ajman Bank rise 2.9 and 3.0 percent respectively. Dubai Financial Market, the Gulf's only listed bourse, advances 3.7 percent.
Shares in Shuaa Capital close 2.1 percent higher at 0.595 dirhams after wild trading which saw them soar as high as 0.67 intra-day. The stock surged 15 percent on Wednesday.
The company declined to comment on the share price move and traders said they knew of no major, fundamental news behind it; instead, they said, short-term traders appeared to be speculating with it in response to the volatility.
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