Dubai-Mubasher: Dubai Financial Market (DFM) saw a bullish performance on Tuesday, amid heavy purchases of blue chips.
The general index rose by 1.46% or 49.9 points to 3,473.8 points, the highest level since 3 November 2015.
The market’s rebound was spurred by investors’ desire to bet on mainly in real estate blue chips, thus pushing liquidity up, capital market analyst Mohamed Al Hosni said.
Trading volume reached 788.9 million shares on Tuesday, compared to 697.8 million shares on Monday.
Turnover rose to AED 995.6 million from AED 767.7 million.
The consumer staples sector led risers after adding 2.9% as Dubai Parks and Resorts levelled up 3.05%.
The banks sector increased 2.6% as Emirates NBD and Dubai Islamic Bank (DIB) edged up 1.16%.
The investment sector went up 1.8%, buoyed up by Dubai Investments and DFM Company as they grew 2.14% and 1.16% in a row.
The real estate gained 0.74% as Emaar Properties advanced 1.5%.
Emaar should break AED 6.28 to maintain its positive performance in the medium term, Al Hosni explained.
The DFMGI is trying to break above 3,485 and 3,510 points in a row, the analyst concluded.
