UAE stocks firmly on top
(News - Detail)
Date : 09.06.2009The Dubai Financial Market yesterday witnessed its longest winning streak since April 2005 as foreign investors showed more interest in local markets amid a rise in crude oil prices to almost $70 a barrel.
"Oil continuing to flirt with the $70 level is keeping investors interested and providing enough support into weakness to mop up any profit-taking. Volumes remain strong and interest remains high," said Mathew Wakeman, managing director, cash and equity linked trading, EFG-Hermes.
Shiv Prakash, equity investments analyst, technical, Mac Capital Advisors, said the market continued to see bullishness with fresh funds entering the markets and "active participation from foreign and local investors made markets to close in positive territory."
The DFM benchmark closed 2,36 per cent higher, keeping its head above the psychological level of 2000 at 2073, while Abu Dhabi Securities Exchange (ADX) index continued to ride a wave of confidence, gaining 1,83 per cent to 2854.
Contacts :
Jiří Zavadil
Dubai World Trade Center
7th Floor - Office No.21
P.O.Box 9759
Sheikh Zayed Road
DUBAI
United Arab Emirates
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Phone: +971 4 3097018
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