By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance for the second successive session on Monday, backed by selective purchases of some blue chips.
The main index gained 0.35% or 11.49 points to reach 3,332.41 points.
The market was mainly backed by speculations on blue chips of the companies which did not announce their third-quarter financials yet, capital market analyst Mohamed Al-Azmi told Mubasher.
The real estate sector topped gainers with a 0.74% rise, backed by Deyaar Development and Emaar Properties which added 2.3% and 0.8% respectively. The investment sector went up 0.4% after DFM Company grew 0.8%.
The banks sector advanced 0.4% due to a rise in Emirates NBD and Dubai Islamic Bank (DIB) by 1.3% and 0.2% respectively.
Investors await the financial announcements of Emaar and Arabtec Holding which will play a role in setting the market’s trend, the analyst noted.
Trading volume reached 303.76 million shares on Monday, compared to 285.84 million shares on Sunday. Turnover stood at AED 438.66 million, compared to AED 380.90 million.
Dubai bourse is expected to continue its attempt to maintain an upward trend, with its main index likely to target 3,350 and 3,400 points, Al-Azmi added.
Translated by: Julian Nabil
