By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) closed Wednesday in green, on the back of the leading stocks’ gains.
The general index rose 0.02% to 3,561.73 points, backed by Emaar, which rose 0.9% to AED 8.5, and Arabtec’s stock, which increased 0.35% to AED 2.88.
Uncertainty is dominating the market, resulting from the geopolitical situation in the region, trading manager at Al Sharhan Stock Centre Fadi Al Kiswani said.
Drake & Scull also hiked 0.26% to AED 0.38, after announcing regulatory approvals on capital reduction.
The current levels of the UAE markets are weak, and invoke more concerns, Al Kiswani added.
New catalysts are needed to push more liquidity into the stocks, Al Kiswani said, predicting that financial results announcements will represent a good momentum.
Trading volume reached 152.65 million shares, exchanged through 2340 transactions, generating AED 206.9 million.
Translated by: Mohammad Shokhba
