Shares on the Dubai bourse closed on an up note on Tuesday for second successive sessions, as investors bet on a new rally streak in the rich-oil emirate’s bourse.

The Dubai benchmark stock index, DFMGI, climbed 0.55% or 26.46 points to 4852.06 above a technically important level at 4800 mark.

“Investors are coming back to the market slowly. They bet on selloff is overdone with some blue-chips stocks are very attractive to buy,” said Nabil Hyder, head of Gulf Research in Al Madina Investment.

“We could see the market extending gains Wednesday on property stocks.”

Shares in heavyweights Emaar and Arabtec climbed 1.48% and 0.47% respectively, while shares in Dubai Islamic Bank closed unchanged.

Turnover hit AED 813.26 million, through the trade of 304.8 million shares.