By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) ended Thursday’s trading session in green territory, pushed by the positive financial results of 2018.
The general index rose 41.03 points, or 1.65%, closing the last session of the week at 2,492.58 points.
The bourse’s turnover stood at AED 291.11 million on Thursday compared to AED 207.32 million on Wednesday, while trading volume levelled up to 210 million shares from 162.19 million shares in the previous session.
By the end of the session, market capitalisation increased by AED 4.98 billion to AED 340.72 billion.
The real estate sector topped risers with 5.24% as Emaar Development and Emaar Malls went up 9.5% and 6%, respectively.
Similarly, the investments sector grew 3.89% on the back of Dubai Investments’ 4.54% increase, while the consumer staples sector levelled up 1.41% as DXB Entertainments advanced 1.63%.
The DFM’s performance has been boosted by blue-chip stocks on the back of the positive financial results for the full-year 2018, which came above expectations, vice president of Investment Research at KAMCO Raed Diab told Mubasher.
The DFM’s performance has been boosted by blue-chip stocks on the back of positive financial results for the full-year 2018, vice president of Investment Research at KAMCO Raed Diab told Mubasher.
He said that the real estate sector lent the biggest support to the market after Emaar Malls and Emaar Development announced their 2018 earning reports, which came above expectations.
The investment climate is positive now, Diab added, expecting its continuation on the short term.
