By: Mahmoud Gamal
Dubai-Mubasher: The Dubai Financial Market (DFM) saw a bullish performance on Thursday, backed by the growth of transportation, real estate and investment stocks.
The main index rose 0.21% or 7.37 points to reach 3,511.77 points.
Trading volume reached 420.53 million shares on Thursday, compared to 259.33 million shares on Wednesday. Turnover stood at AED 538.46 million, compared to 370.47 million.
The services sector led gainers after adding 2.32% as Amanat Holding advanced 3.4%. The consumer staples sector also increased 1.8% after Dubai Parks and Resorts gained 1.83%.
DFM Company was the best performer after adding 1.5%, while Emaar Mallls Group (EMG) climbed 0.36%.
The market’s rise was backed by shifting positions from blue chips to mid-cap stocks, in addition to higher oil prices, according to Hameed Al Tayee.
Traders should be cautious and increase positions in stocks if the market maintains its rise, Al Tayee said, adding that the index’s closure above its support level at 3,480 points reflects the market’s stability.
Translated by: Julian Nabil
