Dubai : Dubai’s stocks pulled back in bull market. This was done on the performance of the main equity index of Emaar Properties.
The jump, fund managers said, comes after a rebound in Brent oil prices and a relief rally in US stocks on Friday after the US Federal Reserve refrained from raising interest rates. The DFM General Index jumped 9.9 per cent, while the Abu Dhabi Securities Exchange General Index increased 3.5 per cent. Emaar advanced 13.7 per cent to Dh7.71 while Emirates NBD rose 12.1 per cent to Dh8.24.
A bull market is generally accepted to be when a security or index jumps 20 per cent from a low and a bear market is the opposite.
(Source *The National)