By: Mahmoud Gamal
Dubai-Mubasher: Dubai Financial Market (DFM) rose to the highest level since late October on Thursday, amid heavy buying on blue chips.
The main gauge added 1.07% or 38.02 points to reach 3,583.82 points.
Trading volume reached 825.61 million shares on Thursday, compared to 614.63 million shares on Wednesday.
Turnover rose to AED 1.047 billion from AED 716.73 million.
Dubai market was boosted by stronger oil and global markets, capital market analyst Mohamed Al Dhafiri said.
The market was also backed by foreign investors who bet on firms which are expected to see positive quarterly results, he added.
The real estate sector advanced 2.17% as Emaar Properties and Damac Properties added 1.8% and 0.7% in a row.
The banks sector levelled up 1.4% after Emirates NBD and Dubai Islamic Bank (DIB) ticked up 1.8% and 1.3%, respectively.
GFH was the value leader after generating AED 265.16 million, rising 6.4% at close.
Arabtec Holding’s stock stood at attractive levels, especially after Chairman Mohamed Thani Al Rumaithi said that the company will turn profitable in the coming period, Al Dhafiri added.
