By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) concluded the week ended Thursday, 11 May in the green territory, backed by its leading sectors particularly real estate and banks.
The DFMGI edged up 0.01% or 0.46 points to 3,420.19 points.
Markets suffered several setbacks this week, resulting in declines across many indices and prices as well as in liquidity after several companies posted disappointing results, Jamal Ajaj, director of Al Sharhan Shares Centre in Abu Dhabi, told Mubasher.
The real estate sector added 0.96% during the week, backed by Emaar Properties and Emaar Malls, while the banks, telecoms and industrial sectors increased 0.64%, 1.1% and 1.61%, respectively.
Turnover reached AED 1.28 billion this week, down from AED 1.33 billion last week, while traded volume to 1.58 billion shares against 1.71 billion.
Ajaj said he expects Arabtec's capital top-up to receive weak demand as the stock's low price is 25% lower than the subscription value.
Subscription in Arabtec's capital increase is scheduled to begin on Monday, 15 May and ended on 21 May.
Translated by: Nada Adel Sobhi
