Property giant Emaar closed at Dh13.90 on Tuesday, reflecting a gain of 1.46 per cent and accounting for Dh1.39 billion worth of trades, with the company leading an upward trend of all the leading shares on the Dubai Financial Market.
More than Dh2.7 billion worth of shares changed hands over the course of the day in the UAE markets, according to Gulf News. Industry experts point out that the trend is indicative of the strong demand and flow of liquidity the markets are beginning to experience over the last week and a half.
Despite the gains, the Dubai Financial Market lost 0.23 per cent to close at 451.96 points after touching the 460 points mark during the session. Abu Dhabi's general index climbed 0.12 per cent to close at 3,540.08 points.
"However, towards the end of the session a massive sell-out took place, and the last price for Emaar was Dh13.60, while the average weighted closing price is Dh13.90, hence it can be expected that the market will open tomorrow (Wednesday) on the low prices," warned Ahmad Abdel Rahman, a financial analyst at Amanah Capital.
Abdel Rahman also predicted, however, that the trend would change, "yet as the session progresses gains might be seen again," he said.
