UAE markets: the big picture | GulfNews.com

UAE markets: the big picture | GulfNews.com:

"Given that the UAE equity exchanges were closed last week for Eid holiday, today we’ll look at some of the larger patterns of the general indices.
Dubai
The Dubai Financial Market General Index (DFMGI) ended at 2,830.92 two weeks ago, the last day of trading prior to Eid holiday. That put the index 119 per cent above the low reached in January 2012, the lowest price subsequent to the 2008 financial crisis. The uptrend that followed is now in its 22nd month, reaching a high of 2,860.39 three weeks ago. That’s a 121 per cent gain from January 2012 when the accent increased its rate of change. For 2013 the DFMGI is up 74.5 per cent.
The index reached a record high of 8,544.67 back in November of 2005, several years before the peak in the UAE real estate market. Until the January 2012 low the DFMGI had been in a downtrend for a little more than six years, losing 84.9 per cent of its value. Since then it has recovered or retraced 21.6 of the prior drop."

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