Air Arabia’s shares yesterday gained about 14 per cent on the first day trading on the Dubai Financial Market to defy sceptics expectation for the low-cost carrier’s stocks. Trading of stocks, which opened at Dh1.07, went up to Dh1.14 and hit a low of Dh1.05 before closing at Dh1.10, up 10 per cent, registering a total volume of 695.8 million shares traded, valued at Dh767.7 million (US$209 million) or almost 50 per cent of DFM’s total transaction value of Dh1.55 billion yesterday.
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