The UAE stock market indices on Sunday hit a new all time high as the Dubai Financial Market (DFM) reported record turnover of Dh2.7 billion, and the overall market turnover touched an all-time high of 2.85 billion.
According to Khaleej Times, the big boost in volumes and turnover came from property major Emaar, which traded 103 million, shares worth Dh1.9 million. Riding high on the excellent first quarter results, the Emaar scrip gained more than 11.78 per cent, (Dh1.95) to close at Dh18.50.
The company had reported a net profit of Dh1.33 billion ($362milion) for the first quarter 2005, while revenues increased 1.5 times to Dh2.84 billion.
