By: Mahmoud Gamal
Dubai-Mubasher: The Dubai Securities Exchange (DFM) closed in the green on Thursday, backed by the rise of most sectors led by the real estate and investment.
The main index went up 0.34% or 11.76 points to reach 3,492.22 points.
The consumer staples sector was the best performer after adding 1.28%, spurred by Dubai Parks and Resorts which went up 1.25%. Likewise, the transportation sector gained 0.75% as Aramex levelled up 1.05%.
The real estate sector grew 0.17% as Damac Properties and Emaar Malls Group (EMG) climbed 0.83% and 0.72% respectively.
Trading volume reached 261.35 million shares on Thursday, compared to 346.35 million shares on Wednesday. Turnover stood at AED 357.54 million, compared to AED 315.83 million.
Slight recovery of oil prices pushed some traders to purchase selective stocks, thus pushing the market to rise at close, technical analyst Thabet Al-Harbi said.
The liquidity is still low despite the market’s positive performance on Thursday, indicating that traders are cautious.
The main index is expected to continue its rise to 3,500-3,520 points, amid profit-taking witnessed recently.
Translated by: Julian Nabil
