By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) gained in the week ended 30 March, backed by its leading sectors, particularly investment, real estate, and banks.
Over the course of five sessions, the DFMGI grew 0.55% or 19 points to 3,480.43 points.
Turnover increased to AED 1.33 billion from AED 1.2 billion last week, while traded volume reached 917.48 million shares compared to last week’s 748 million.
The real estate sector led gainers adding 1.4%, after Arabtec and Emaar Malls levelled up 1.25% and 3.13%, and Union Properties increased 2.65%. The banking sector followed suit with 1% after Dubai Islamic Bank (DIB) rose 1.45%.
Market analyst Gamal Saad commented that the DFM’s stock prices saw major fluctuation during the week after dividends were distributed.
The rise in traded value and volume is a positive indicator of selective buying by large portfolios, he told Mubasher.
Saad expects markets to continue with the same performance next week due to the absence of market-boosting catalysts, noting that with dividends having been distributed, investors were likely to reinvest some of them in the market, which may help the DFM hold over the coming week.
Translated by: Nada Adel Sobhi
