Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Sunday, amid increased purchases of some stocks especially the Dubai Islamic Bank (DIB) and Arabtec Holding.
The general index rose 0.09% or 3.24 points to reach 3,647.55 points.
The services sector gained 1.8% as Marka increased 2.8%.
The banks sector went up 0.46% after Dubai Islamic Bank (DIB) grew 0.65%.
Blue chips like DFM Company and Arabtec increased 0.88% and 0.65%, respectively.
Turnover amounted to AED 188.99 million on Sunday, compared to AED 304.3 million on Thursday. Trading volume reached 223.84 million shares, compared to 174.7 million shares.
The UAE stock markets still lack catalysts and are witnessing a sideways performance, according to Fady Al Kasswany, trading manager at Al Sharhan Stock Center.
The markets’ liquidity is still low due to unclear political situations, he noted.
The markets should be supported by strong catalysts like near announcement of fourth-quarter financials, he said.
The markets are expected to see a sideways-to-bullish performance, backed by real estate stocks in line with the begining of Cityscape Global 2017 which will be held from 11 to 13 September.
