Dubai stocks claim back investors | Markets – Gulf News
Dubai stocks rebounded after five days of trading in the red with key property stocks supporting the rally, while other GCC markets moved little in the absence of a clear direction to the investors.
Dubai Financial Market traded 0.3 per cent higher at 2,503 points, bottoming out from a series of five-day losses. Real estate shares led the way with DAMAC Properties topping the list of gainers and Emaar Properties eking out 0.3 per cent.
The rally comes after recent back-to-back selloffs turned the stock valuations more attractive for buyers. The index dropped in every session of the last week forming the longest stretch of downward trends seen this year, which was set off by reports of various countries reintroducing the virus lockdowns in their pursuit to fight the resurgence of the pandemic.
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