By: Mahmoud Gamal
Dubai-Mubasher: Most blue chips in Dubai Financial Market (DFM) witnessed a positive performance on Tuesday, following the rise of oil prices and global markets.
Emaar Properties, Dubai Islamic Bank (DIB), Arabtec Holding, Dubai Investments and DFM Company saw gains. Meanwhile, du was the only loser.
By 12:00pm UAE time, Emaar jumped 2.9% to reach AED 5.64, the highest level in six months. Turnover on the stock reached AED 51.38 million after 9.12 million shares were traded through 322 transactions.
Arabtec increased 2.8% to reach AED 1.09 after trading 11.42 million shares through 241 transactions, with turnover of AED 12.42 million.
As a result, the real estate sector jumped 2.34%, pushing the general index to rise 0.42%.
The leading stocks are considered safe haven amid volatile global economy, Amir Mansour told Mubasher.
Mansour added that many traders focus on blue chips rather than other stocks that may be more profitable, forcing the markets to fluctuate between profit-taking and buy orders on certain stocks.
Dubai Islamic Bank (DIB) levelled up 2.1% to AED 5.87, with turnover of AED 20.9 million generated from trading of 3.6 million shares through 159 transactions.
Emirates NBD also advanced 3.4% after trading 447,400 shares through 23 transactions, with trading volume of AED 3.3 million. As a result, the banks sector went up 2.2%.
Dubai Investments grew 3.6% to AED 1.72, followed by DFM Company which rose 2.02% to AED 1.14.The investment sector rose 3.15%.
Translated by: Julian Nabil
