By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) managed to trim some of its early losses on Thursday, backed by the rise of banks stocks.
The DFMGI slightly fell 0.06% or 2.30 points to reach 3,606.17 points.
The market tried to hold, backed by purchases of banks and insurance stocks, capital market analyst Gamal Mosaaed said.
The banks sector was the top gainer with a 1.35% increase, backed by Emirates NBD, GFH Financial Group, and Dubai Islamic Bank (DIB) which grew 1.24%, 0.5%, and 0.34%, respectively.
The insurance sector levelled up 0.43% as Dar Al Takaful grew 1.77%. The transportation sector climbed 0.3% after Gulf Navigation Holding gained 2.2%.
Traders speculate mainly on stocks with prices less than AED 1, Mosaaed explained.
The investment sector led losers with a 1.1% decline as Dubai Investments sank 1.6%.
The real estate sector retreated 0.29% after Emaar Malls Group (EMG), Arabtec Holding and Emaar Properties slid 1.88%, 0.2%, and 0.2%, respectively.
Trading volume reached 98.39 million shares on Thursday, compared to 147.15 million shares on Wednesday. Turnover amounted to AED 147.15 million, compared to AED 298.26 million.
Translated by: Julian Nabil
