Dubai and Saudi bourses see heavy buying | GulfNews.com

Dubai and Saudi bourses see heavy buying | GulfNews.com:

"After Tuesday’s massive sell off in UAE and Saudi Arabia’s stock markets, which was triggered by concerns over possible military action against Syria, selling pressure in both somewhat abated yesterday as investors stepped in to take advantage of the fall in share prices and buy bluechip stocks.
As a result, Dubai’s benchmark DFM General Index ended 1.30 per cent down to 2516.48 and Saudi Arabia’s TASI Index in fact added 0.37 per cent to end at 7751.32. The Bahrain All Share Index was also up 0.30 per cent.
The remaining Gulf markets declined with Abu Dhabi’s ADX General Index slipping 2.22 per cent, Oman closing three per cent lower, Qatar 2.29 per cent and Kuwait 0.76 per cent. Emaar Properties, the biggest developer of the region, had the highest turnover of Dh243.25 million and remained unchanged at Dh5.70. Emirates NBD, Dubai’s biggest bank, was up 1.66 per cent. Air Arabia and logistics company Aramex advanced 0.75 per cent and 2 per cent respectively. The number of decliners still was in a majority, with 24 stocks retreating, three advancing and four remaining flat."

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