Business | Markets

Dubai stock market records biggest one-day gain ever

Dubai market ended 10.76 per cent higher at 3,703 points, posting its largest one-day gain in its lifetime for the second trading session in a row.

  • Staff Report
  • Published: 14:29 October 14, 2008
  • Gulf News

Dubai: Dubai market ended 10.76 per cent higher at 3,703 points, posting its largest one-day gain in its lifetime for the second trading session in a row.

Real estate stocks led the gains, with Emaar Properties and Union Properties ending 14.92 per cent and 14.61 per cent higher respectively.

Recent losses means Emaar Properties is now Dubai's third-largest company by market capitalisation, with Mashreq Bank and Emirates NBD taking over the first two spots.

Construction firm Arabtec and mortgage lenders Tamweel and Amlak Finance all soared around 15 per cent.

In Abu Dhabi, Etisalat is the top gainer of the day, ending 9.8 per cent higher, but property stocks and banks also feature heavily among the bourse's biggest winners.

National Bank of Abu Dhabi, First Gulf Bank and Abu Dhabi Commercial Bank all ended around 10 per cent higher. Aldar Properties and Sorouh Real Estate ended 9.85 per cent and 9.94 per cent respectively.

The index ended 7.53 per cent higher at 3,602 points.

  • Rate this article
  • Average reader rating (0 votes) 0 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

Related Articles

  1. Investor confidence gets big boost

    Investor confidence gets big boost

    Investor confidence gets big boost

  2. Record gains for Dubai stocks

    Record gains for Dubai stocks

    Dubai index in biggest one-day gain ever

  3. Cabinet approves buyback option

    Cabinet approves buyback option

  4. US to pump $250 billion into its banks

    US to pump $250 billion into its banks

    US to pump $250 billion into its banks to end financial crisis

  5. Japan's Nikkei soars more than 14%

    Japan stocks surge in early trading

  6. UAE eases rules on share buybacks

    UAE eases rules on share buybacks to boost stocks

  7. Oman rules out market intervention

    Oman rules out market intervention

  8. Bahrain allays fears about fiscal system

    Bahrain allays fears about financial system

  9. Qatar will buy key bank shares

    Qatar will buy key bank shares

More from Markets

  1. Insurers face huge climate risks

  2. Gold, crude slide as dollar rebounds

  3. Russia gold production rises 12%

  4. Oil falls below $75 on Dubai restructuring

All articles in Markets

More from Business

Gulf News
Popular in Business
Airlines in the region
Budget travel

Airlines in the region

Take a pictorial look at some of the budget airlines in GCC

Business Editor's choice