By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index grew 25.14 points, or 0.85%, to 2,973.94 points in a week on the back of selective purchases of blue chips, on top of which Emaar Properties.
The transportation sector added 2.5, as Aramex surged 4.5% to AED 4.5, while the banks sector grew 1.1% after Dubai Islamic Bank (DIB) went up 2.6%.
The real estate rose 0.98%, as Emaar Properties increased by 0.6%.
On the other hand, the investment sector shed 0.15%, as DFM company lost 0.2%.
Over the week, the DFM’s trading volume reached 712.69 million shares, while the market’s liquidity amounted to AED 474.7 million.
The building of new positions was targeting attractively-priced blue chips, CEO of NamaaZone Research Iyad Aref told Mubasher.
The main driver of the UAE markets’ performance in the coming two weeks is the bi-annual disclosures of the most active companies, especially Emaar Properties and Arabtec Holding, he said.
If the real estate companies posted positive financial results, stock indices in Dubai and Abu Dhabi would rise above current levels, the analyst noted.
Translated by: Muhammad Khalid
