Dubai – Mubasher: The DFM Company’s stock increased 3.45% to reach AED 1.2 after 10.10 million shares were exchanged, generating AED 11.99 million on Monday by 10:40 am UAE time, registering its highest level since 13 August trading session, or in two months.
The stock pushed the investment and financial services sector up 0.68%.
Portfolios will try to acquire attractive positions of the stock in line with expectations of improve in its financial results in the third quarter of 2017, technical analyst Salman Khalaf said.
The DFM Company’s profits retreated 19% to reach AED 43.3 million in Q2-17, compared to AED 53.5 million in Q2-16.
The stocks of the investment and financial services sector reached attractive levels to purchase, Khalaf added, noting that it is possible to see strong rises of the stock until the companies announced their financial results.
The DFM Company’s stock aims to reach the level of AED 1.25 during the coming trading sessions, subject to the continuity of liquidity pumping, Khalaf indicated.
In the meantime, the Dubai Financial Market (DFM) benchmark index rose 0.57% to reach 3,866.08 points.
