DUBAI: Dubai’s market rose to a one-week high as bargain hunters returned. Dubai’s measure fell 6.2 percent from Feb. 24’s 39-month peak to reach a two-month low on Monday, but bargain hunters have since helped the market rebound.
The index continued that trend, climbing 1.4 percent to its highest level since March 24.
“The drop in prices created an opportunity that encouraged the market bulls, especially foreign investors,” said Firass Yaish, business development manager at One Financial Markets. “The bulk of their liquidity is extremely selective toward heavyweight stocks, particularly Emaar. It looks like Emaar is the winning horse of 2013.”
