Dubai – Mubasher: The Dubai Financial Market (DFM) enjoyed a positive performance, ending the third quarter of 2018 in green, having risen 13.95 points, or 0.5%, to 2,834.95 points, on the back of selective purchases.
The insurance sector led risers, surging 19.53% after Islamic Arab Insurance Company’s (Salama) stock leapt 56.25% during the quarter to AED 0.625, while telecommunications sector and its stock Emirates Integrated Telecommunications Company’s (du) gained 2.24% each, with the stock reaching AED 5.03.
The consumer staples sector levelled up 1.58% as DXB Entertainments’ stock went up 1.8% to AED 0.347, while the banks sector rose 1.48% after Dubai Islamic Bank (DIB) and Ajman Bank increased 8.03% and 3.16% to AED 5.38, and AED 0.980, respectively.
On the flipside, the industrials sector tumbled 16.43% as National Cement Company’s (NCC) stock saw a similar fall, while the real estate sector retreated 4.15% after Drake and Scull International’s (DSI) stock plunged 53.2% to AED 0.350, Union Properties with 10.8%, and Emaar Malls with 14.88%. Moreover, Arabtec Holding, Damac Properties, and Emaar Properties declined 3.88%, 2.34%, and 0.79%, respectively.
The DFM’s traded volume decreased 6.5% to 8.18 billion shares, from 8.75 billion shares in Q2-18, while liquidity slumped 27% to AED 9.96 billion ($2.71 billion) from AED 13.65 billion ($3.72 billion).
