By: Mahmoud Gamal
Dubai-Mubasher: Dubai Financial Market (DFM) maintained its early-session winnings at close on Tuesday, amid heavy purchases in select counters.
The DFMGI rose 1.06% or 37.5 points to 3,562.9 points.
The UAE markets are expected to maintain their positive performance on Tuesday, amid speculative trades on selective stocks, analysts earlier told Mubasher.
Dubai market managed to maintain its uptrend, concurrently with the rise of global and oil markets, in addition to positive results posted by Emirates NBD, technical analyst Salam Saeed told Mubasher.
Upbeat expectations of the quarterly figures for the rest of the companies give a signal that the general index will go up to 3,600 points, Saeed added.
Trading volume reached 965.89 million shares on Tuesday, compared to 575.8 million shares on Monday.
Turnover rose to AED 899.56 million, up from AED 726.26 million.
Liquidity was boosted by a tendency of portfolio investors to build stronger positions and purchase certain blue chips and mid caps, Saeed noted.
The banks sector rose 1.3% as Emirates NBD advanced 4.04% after releasing its first-quarter financial statements.
The transportation sector went up 1.27% after Air Arabia edged up 1.6%.
The real estate sector grew 0.9%, aided by Arabtec Holding and Emaar Properties which nudged up 1.8% and 1.4% in a row.
Saeed advised traders to invest in safer stocks of firms that focus on operating income.
