By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a bullish performance on Wednesday, backed by purchases of blue-chip and defensive stocks.
The general index grew 0.30% or 10.8 points to reach 3,653.65 points.
Dubai bourse is maintaining an upside move since the beginning of this year, spurred by increased foreign purchases amid the DFMGI’s attempt to rise to 3,750 points on the short term, capital market expert Al Sayed Hussein told Mubasher.
The services sector climbed 2.7% as Amanat Holdings increased 4.35%. The investment sector levelled up 0.6% after SHUAA Capital grew 0.6%.
The real estate sector went up 0.5% due to a rise in Arabtec Holding by 0.7%.
On the other hand, the transportation sector fell 0.21% as Aramex declined 0.9%.
Trading volume reached 629.81 million shares on Wednesday, compared to 532.08 million shares on Tuesday. Turnover amounted to AED 1.356 billion, compared to AED 954.78 million.
The market will maintain its positive outlook if the main index manages to stand above its support at 3,600 points, Hussein noted.
Translated by: Julian Nabil
