By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) ended Tuesday’s trading session in green territory, supported by selective purchases on the stocks of the real estate, investment and banks sectors.
The general index went up 0.85%, closing the mid-week session at 2,683.74 points.
The bourse has returned to green territory on the back of launching government initiatives to prop up the real estate sector including Dubai ruler’s decision of increasing the value of housing loans for citizens in government residential neighbourhoods from AED 800,000 to AED 1.2 million as a maximum loan amount, financial analysts told Mubasher.
Emaar’s recent acquisitions and projects have also lent support to the market today, Fadi Al Ghattis, CEO of MindCraft Consultants, told Mubasher.
The real estate sector topped gainers with 2.93% as Emaar Development and Damac Properties jumped 6.8% and 5.15%, respectively, while the investments sector went up 2.54% on the back of Dubai Investments’ 2.23% increase.
Similarly, the consumer staples and insurance sectors levelled up 1.66% and 0.12%, respectively.
Translated by: Kholoud Mohamed Hussein
