Dubai, January 23, 2012

The benchmark Dubai Financial Market General Index (DFMGI) headed for the highest close in almost three weeks on speculation declines in the past month prompted by concerns over Europe’s debt crisis were overdone given the outlook for growth and advanced by 6.12 points or 0.46% and closed at 1340.7 points.

Throughout the day’s trade, the DFM General Index (DFMGI) touched intraday low at 1334.21 points and intraday high at 1346.2 points; the open index was 1334.58. About 118.226 million shares traded in Dubai, compared with a 12-month daily average of about 100 million shares. Out of 30 issues traded, 20 gained price while rest of 10 issues declined.

Among the trades, the most active issues based on volume were GFH, ARTC, HITSTELEC, DPW, AIRARABIA and EMAAR. However, the most active issues based on value were ARTC, UPP, HITSTELEC, GFH, TABREED and AIRARABIA.

Among the top gainers, GGICO was up by +14.75%, DRC +7.14% DRC +6.00%, EKTTITAB +4.91%, HITSTELEC +4.21% and AMAN +4.10%. Among the top losers, SALAM_BAH was down by -6.58%, GFH -2.74%, CBD -2.68%, ALSALAMSUDAN -2.37% and DIC -1.11%.

Based on the technical analysis RSI stood around 46 points, MFI at 51 points and current index is about 1.51% lower than the 60 days simple moving average.