By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index went up 68.2 points, or 2.6%, to 2,635.78 points during February.
Market capitalisation increased by around AED 5.6 billion to reach AED 348.24 billion last month, compared to AED 342.64 billion a month earlier.
The DFM saw a positive performance during February, supported by the stocks of Emaar Properties and its subsidiaries, Tariq Qaqish, asset manager at MENACorp, told Mubasher.
Qaqish added that the improvement of global equity markets and oil prices encouraged some investors to build positions on blue chips.
Over the month, the real estate sector grew 10.5%, as Emaar Properties and Emaar Malls went up 15.6% and 10.8%, respectively, while Emaar Development rose 2.63%.
The transportation sector increased by 1.5%, as Aramex gained 7.07%. The consumer staples sector levelled up 1% after DXB Entertainments rose 1.15%.
On the other hand, the insurance and investment sectors lost 5.17% and 2.65%, respectively, after Dubai investments declined 3.7%, while Salama shed 5.3%.
As for the weekly trading, the DFM’s general index grew 0.14% after Dubai Investments, DFM company, Arabtec Holding, and Emaar Properties levelled up 4.07%, 1.6%, 2.86%, and 6.25%, respectively.
Translated by: Muhammad Abdul-Wakeel
