By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) closed Thursday on a positive note on the back of strong buying by foreign investors.
The DFMGI grew 0.39% or around 12 points and closed at 3,675.12 points. Turnover amounted to AED 341.09 million after 202.21 million shares changed hands through 3,738 transactions.
The investment sector led gainers, adding 1.8% after Dubai Investments and DFM Company added 2.02% and 1.65%, respectively.
Investment stocks have continued to rise on Thursday, led by Dubai Investments, alongside Dubai Islamic Bank’s (DIB) stock, market analyst Jamal AbdelHamid told Mubasher.
The banks sector grew 0.73% after DIB and Emirates NBD increased 1.5% and 0.75%, respectively.
Gains by blue chips have helped the DFMGI rise, AbdelHamid noted, indicating that there is an ongoing state of optimism regarding the remaining leading companies’ financial results, particularly those from the real estate sector, which tend to increase investors’ risk appetite.
Real estate stocks DAMAC Properties, Deyaar, and Drake & Scull International (DSI), gained 2.3%, 0.4% and 0.25%, respectively.
The DFMGI was targeting breaking the level of 3,720 points on Thursday, the analyst told Mubasher, forecasting that with the emergence of new liquidity next week, the index is likely to pass 3,703 points and rise towards 3,738 points.
Translated by: Nada Adel Sobhi
