Dubai posts best session in 7 months as market value tops AED 1 trillion
The DFM index jumped 3.95% in its best day since 8 April, and market capitalisation returned above AED 1 trillion as telecoms, real estate and banks rose.
The Dubai Financial Market index jumped 3.95% in late trading on Wednesday, its biggest daily gain since 8 April, then rose a further 0.17% to 6,051.23 points on Thursday.
The market value of listed shares returned above AED 1 trillion, after standing at AED 967.22 billion the previous day, according to the published data.
The telecoms sector led the gains with a 7.81% rise, while real estate rose 4.2% and banks 3.99%.
Among the top gainers, Emaar Properties rose 4.4% and Emaar Development 4.89% after Emaar announced a voluntary cash tender offer for up to 100% of its subsidiary.
What do these terms mean?
Dubai Financial Market (DFM): A measure of the performance of companies listed on the Dubai Financial Market, changing with the movement of their prices.
Market capitalisation: The total value of a company's or market's shares, calculated by multiplying the share price by the number of traded shares.
Point: A unit for measuring index movement; a one-point rise means a small increase in its value.
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