DFM leads GCC markets with 15% surge in six weeks

DFM leads GCC markets with 15% surge in six weeks. (EB FILE)

Positive momentum backed by global cues and high oil prices have led the Dubai Financial Market (DFM) General Index to climb 14.57 per cent in six weeks since the beginning of March, the most by a GCC index during the period.

The index has gained 232 points between its close on February 28 and April 11, with positive earnings expectations for the first quarter and anticipation of dividends providing the much-needed impetus to the GCC markets, with four of the seven bourses gaining more than five per cent in the six-week period.

The surge in DFM was led by Emaar Properties, which has gained more than 36 per cent in the six-week period, followed by the DFM's own stock, which is up more than 35 per cent in the same period. Some of the other top gainers in Dubai include Shuaa Capital (up 26.5 per cent), Arabtec Holding (24.42 per cent) and Emirates NBD (24.28 per cent).

 

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