By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index rose 27.83 points, or 0.9%, to close at 3,136.36 points on Sunday on the back of selective buying and speculations on blue chips, especially Emaar Properties.
Sunday's growth is mainly attributed to Emaar’s stock, senior financial analyst at MenaCorp Issam Kassabieh said.
The services sector surged 2.84% after Amanat Holdings gained 3.01% to AED 1.37, while Tabreed added 2.6% to AED 1.59.
The telecommunication sector and its only stock, du, jumped 2.5% each, while the investment sector rose 1.08%, as Dubai Investments increased by 1.4% to AED 2.12.
The real estate sector grew 0.87% after Arabtec Holding surged 2.24%, while Deyaar Development and Emaar Properties levelled up 1.68% and 0.86%, respectively.
The transportation sector gained 0.73%, as Air Arabia grew 1.75% to AED 1.6. The banks sector also went up 0.6% after Dubai Islamic Bank (DIB) increased by 1.7%.
The DFM's trading volume shrank to 165.72 million shares from 231.67 million on Thursday, while turnover retreated to AED 227.88 million versus AED 295.45 million in the previous session.
GFH topped the DFM in terms of volume with 27.71 million shares, while Emaar Properties led the market in terms of liquidity with AED 55.01 million.
The DFM is expected to maintain its positive performance, given the recovery of investors’ morale, the analyst concluded.
Translated by: Muhammad Khalid
