Dubai's index hits a 34-month closing high as so-called "smart money" from foreign investors buys into the emirate's economic recovery.
Bluechips lead gains. Emaar Properties climbs 3.7 percent and top bank Emirates NBD (ENBD) surges 8.6 percent to a 14-month high.
Du, the third largest stock by market value after Emaar and ENBD, slips 0.6 percent. The telecom operator's shares are off-limits to foreign institutions.
"People have realised there is economic recovery in Dubai and at the same time we have more and more foreign money that wants to invest in emerging and frontier markets," says Sebastien Henin, portfolio manager at The National Investor.
Arabian Business
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