By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Thursday, spurred by the rise of blue chips.
The main index went up 0.63% or 21.01 points to reach 3,340.49 points.
The consumer staples sector topped gainers with a 4.39% rise, backed by DXB Entertainments which advanced 4.5%. The investment sector also went up 1.09% after SHUAA Capital and Dubai Investments grew 8.3% and 1.01% respectively.
The transportation sector gained 0.37% as Gulf Navigation Holding and Aramex climbed 1.8% and 1.33% respectively.
Recovery of US stock markets and rise of oil prices to acceptable levels pushed the market to continue its gains, despite anxiety over the approach of third-quarter financials, according to capital market analyst Fawzi Abdullah.
On the other hand, the banks sector led losers after falling 0.21%, weighed down by Emirates NBD which slid 1.25%.
The market saw trading of 436.64 million shares through 4,580 transactions, with a turnover of AED 627.56 million.
The main index is likely to rise and target 3,380-3,400 points, Abdullah noted.
Translated by: Julian Nabil
