In Dubai, there is a boom in buying and trading volumes picked up which results the property stocks to reach at new highs. Union Properties trade more than 31 million shares and scaled 14.9% to 38 fils, which is the highest point since January 10.

The Abu Dhabi Securities Exchange General Index has shown an increase of 0.7% which has taken it to 2,678.84 points and similar rise is found in the Dubai Financial Market General Index which has mounted by 1.4% at 1,622.58.

Many companies like Arabtec Construction and Deyaar Development have added 2 per cent to Dh1.54 and 9.4 per cent to 29 fils respectively.

 Apart from all these gains the National Bank of Abu Dhabi and First Gulf Bank has augmented 2.26% to Dh11.30 and 0.86% to Dh17.65 correspondingly. In the capital the leadership was captured by National Bank of Fujairah which has added 10% to Dh3.52

On Wednesday, in Qatar, the index fell 0.4% to 8780.80.

Following the Dubai other gulf markets also responded similarly and end their week with a rise. Index in Kuwait closed up 0.3% at 6,388.70; the Qatari index was down 0.4 per cent to 8,780.80; other markets like Muscat index closed at a rise of 0.3 per cent at 6,394.48 while Bahrain’s market climbed 0.7 per cent at 1411.97.