Dubai – Mubasher: The Dubai Financial Market (DFM) closed Sunday’s trading session marginally up, backed by the telecoms, real estate, and banks sectors.
The DFMGI added 0.08% or 2.71 points and closed at 3,608.88 points.
The telecom sector and its stock du gained 2.63%, contributing to the index’s rise, while the real estate sector increased 0.20% after Emaar Malls, Arabtec, and Emaar Properties grew 1.6%, 0.3%, and 0.12%, respectively.
Commenting on the DFM’s performance at the start of the week, Wael Mohaysen, general manager at Global for Shares and Bonds, noted that investors were cautious throughout the session, awaiting more companies to disclose their financial results.
The banks sector added 0.13% after Dubai Islamic Bank (DIB) grew 0.84%.
Turnover increased to AED 192.53 million from AED 147.15 million on Thursday, while traded volume rose to 131.82 million shares from 98.39 million.
Stocks need stronger liquidity and further support from institutional investors, the analyst told Mubasher, noting that institutions were maintaining their distance from the market at present.
Companies including Dubai Investments, Aramex, Takaful Al Emarat, and Finance House, among others, are set to disclose their financial results for the first half of 2017 this week.
Since the start of the disclosure period, a total of 29 companies, listed on both the Abu Dhabi and Dubai markets, have reported a combined AED 25.4 billion in profits.
