By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) closed in the green on Sunday, backed by the real estate and investment sectors.
The main index went up 0.23% or 8.02 points to reach 3,525.35 points.
The investment sector led the best performers adding 0.7%, supported by Dubai Investments and Dubai Financial Market which rose 0.8% each.
The transport sector also advanced 0.5%, backed Air Arabia which increased 0.76%,
The real estate sector grew 0.42% as Emaar Malls Group (EMG) and Arabtec which climbed 0.77% each.
The market's today rise is attributed to the announcement of 2017 Dubai budget with the expectation for the oil to advance, technical analyst, Gamal Abdul Hamid, told Mubasher.
The analyst noted that the investors' focus of the leading stocks, especially in the investment and real estate sectors, also contributed to the stability of the market.
On the other hand, the banks sector shed 0.04%, weighted by Dubai Islamic Bank (DIB) which fell 0.18%.
Trading volume reached 309.20 million shares, compared to 271.50 million shares last session. Turnover stood at AED 400.47 million, compared to AED 323.78 million.
Abdul Hamid added that the reason behind that the market did not surpass the important resistance level at 3,526 points is low liquidity, which is being experienced by the market since the beginning of last week.
Translated by: Sara Ghali
