By: Mahmoud Gamal
Dubai-Mubasher: The Dubai Financial Market (DFM) saw a positive performance in the third quarter of 2016, backed by the rise of most sectors led by the real estate and transportation.
The main index went up 4.9% or 163.3 points to reach 3,474.38 points.
The real estate sector increased 7.4% as Emaar Properties and Arabtec Holding advanced 14.5% and 8% respectively.
The transportation sector rose 7.2% as Aramex and Air Arabia levelled up 21.6% and 3.8% respectively.
The investment sector gained 3.3% as Dubai Investments and DFM Company grew 2.07% and 1.3% respectively. The banks sector also climbed 3% after Dubai Islamic Bank (DIB) levelled up 6%.
Trading volume stood at 14.73 billion shares in Q3-16, compared to 23.54 billion shares in Q3-15. Turnover reached AED 21.25 billion, compared to AED 28.49 billion.
In September, the DFMGI index tumbled 0.86% or 30.02 points, compared to 3,504.4 points in August.
The market saw cautious trading activities amid the control of speculations due to traders’ worries over OPEC’s decision regarding oil output, according to Wadah Al-Taha, a member of the National Advisory Board of Chartered Institute for Securities &Investments (CISI).
Emaar, DIB and GFH Holding mainly supported the index to hold, Al-Taha added.
The DFM’s trades, which are controlled by speculations, are unlikely to see a significant change in October, the analyst added.
The market saw trading of 4.9 billion shares in September, compared to 5.19 billion shares in August. Turnover stood at AED 6.12 billion, compared to AED 7.59 billion.
In the first nine months of 2016, the main index increased 10.26% or 323.38 points, compared to 3,151 points in the prior-year period.
Dubai bourse generated AED 89.68 billion from the trading of 70.72 billion shares in the nine-month period of 2016, compared to AED 157.9 billion from 97.09 billion shares in the same period last year.
Translated by: Julian Nabil
