By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) maintained its early gains on Wednesday, amid the build-up of new positions in blue chips.
The general index rose 0.29% or 10.23 points to reach 3,478.81 points.
The investment sector advanced 0.49% as SHUAA Capital and Dubai Investments grew 1.08% and 0.84%, respectively.
The real estate sector added 0.37% after Arabtec Holding and Emaar Properties went up 1.8% and 0.55%, respectively.
The banks sector grew 0.25% as Emirates NBD and Dubai Islamic Bank (DIB) added 0.6% and 0.18%, respectively.
Some portfolio investors tended to increase their positions in blue chip stocks, in line with the rise of US stock futures, according to capital market analyst Hareb Omar.
On the flipside, the transportation sector led losers with a 0.48% decline as Air Arabia retreated 1.8%.
Trading volume reached 236.21 million shares on Wednesday, compared to 385.33 million shares on Tuesday. Turnover amounted to AED 441.48 million, compared to AED 643.25 million.
Investors are still cautious as some companies did not announce their annual financials yet, Omar noted, adding that the market is likely to continue its rise on Thursday.
Translated by: Julian Nabil
