By: Mahmoud Gamal
Dubai – Mubasher: The main index of Dubai Financial Market (DFM) ended Wednesday, backed by the collective purchase of some leading stocks, after two sessions of declies..
The benchmark index added 0.43% or 14.97 points to reach 3,520.15 points.
The rise of the market is due to the return of some portfolios to the collective purchase to leading and medium-volume shares, approaching the end of profit gaining, technical analyst, Mohamed Al Hussiny, told Mubasher.
The analyst added that one technical reason behind today's hike is approaching important resistance level at 3,525 points again.
The investment led the gaining sectors and increased 1.3%, supported by Dubai Financial Market (DFM) which added 0.8%.
The service sector went up 0.7%, backed by National Central Cooling Co. (Tabreed) which rose 2.5%.
The real estate sector grew 0.56% on the rise of Union Properties by 1.8%. Arabtec and Emaar also levelled up 1.54% and 0.5% respectively.
Al Hussiny noted that the current liquidity levels are still low and show a state of hesitation, coinciding with the divergence of global markets.
DFM’s trading value amounted to AED 327.62 million, after 210.44 million shares were traded, compared to 252.84 million shares traded at a value of AED 314.25.
Translated by: Sara Ghali
