Market Indicator???

My bank sends out a report about how the UAE stock markets did for the day; the report normally arrives between 3:30 p.m. and 4:00 p.m. When the report does not arrive, it usually means something unusual happened. Today, the report duly arrived at 4:30 p.m., so nothing unusual about the day’s trading.

The DFM rose more than 2.2%, but then dropped back to close with a gain of just 0.6%. This was on a volume of more than US$1,000,000,000.

Only 20 stocks were traded at all, with just 6 (TAMWEEL, EMAAR Properties, Dubai Investments, Islamic Arab Ins., Amlak Finance, and ARAMEX) representing more than 80% of the value traded.

The Gulf News reports that Habib Al Mulla, chairman of the Dubai Financial Services Authority says that the DFM does not have enough companies.

Which seems like rather an understatement.