By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) reversed its early negative performance on Monday, backed by the rise of investment and real estate stocks.
The main index advanced 0.12% or 4.02 points to reach 3,359.39 points.
Trading volume reached 344.62 million shares on Monday, compared to 220.68 million shares on Sunday. Turnover stood at AED 481.94 million, compared to AED 300.99 million.
Investors tended to purchase blue chips, especially Emaar which reached attractive price levels, capital market analyst Gamal Abdel Hamid told Mubasher.
The real estate sector rose 0.28% as Emaar Properties and Union Properties advanced 1.2% and 0.3% respectively.
The investment sector is likely to see high liquidity as its stocks reached attractive price levels, the analyst said.
The investment sector went up 1.23% as SHUAA Capital and Dubai Investments grew 5.37% and 1.5% respectively.
The market is expected to maintain its rise on Tuesday, with its main index likely to reach 3,383-3,395 points, Abdel Hamid noted.
Translated by: Julian Nabil
