Business | Markets
Dubai index in biggest one-day gain ever
The Dubai index ended with its biggest-one day gain ever, jumping 10.53 per cent.
- Staff Report
- Published: 14:18 October 13, 2008
- Image Credit: Gulf News Archive
- The main index soared to 10.53 per cent.
Dubai: The Dubai index ended with its biggest-one day gain ever, jumping 10.53 per cent, as a government vow to guarantee deposits and interbank lending, coupled with rising overseas markets, enticed traders back into the market.
The main index soared to 10.53 per cent to end at 3,343.56, supported by banks and real estate stocks.
Emaar Properties rose 15.01 per cent while Ajman Bank and Dubai Islamic Bank both gained more than 14 per cent.
In Abu Dhabi, the index closes up by 6.92 per cent, buoyed by Abu Dhabi Commercial Bank and Abu Dhabi Islamic Bank, both up more than 9 per cent.
More from Markets
More from Business
Business Editor's choice
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
-
Banks can increase their share
Longer opening hours, more locations outside cities and lower charges can help
-
Geepas idea blossomed in Dubai
The journey led from a small shop in Bahrain to a $1.27b company in the UAE
