By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) closed Wednesday’s volatile session in the green.
The main index rose 0.05% or 1.51 points to reach 3,319.48 points.
The market’s uptrend was mainly attributed to higher purchases of defensive stocks in the transportation sector and some blue chips in the real estate sector, according to market analyst Mohamed Al-Azmi.
The consumer staples sector topped gainers with a 3.24% rise, backed by DXB Entertainments which rose 3.3%.
The transportation sector advanced 0.32% as Gulf Navigation Holding went up 3.7%.
The real estate sector gained 0.23% as Emaar Properties and Emaar Malls Group climbed 0.15% and 1.14% respectively.
Stability of the main index above 3,200 points is a positive signal, Al-Azmi explained.
On the flipside, the investment sector fell 0.95% as Dubai Investments retreated 1.5%. The banks sector slid 0.28% as Amlak Finance levelled down 1.6%.
He advised traders to invest in stocks that depend on operating profits ahead of the disclosure of the third-quarter financials.
Translated by: Julian Nabil
