By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) gained AED 7 billion after its main index surged 105.11 points, or 4.15% to 2,634.86 points by the end of the first quarter of 2019.
The DFM’s market capitalisation rose to AED 349.668 billion ($95.18 billion) in the three-month period ended in March.
Cash dividends of listed firms levelled up 3% to AED 12.3 billion for the full fiscal year 2018, boosted by distributions of the real estate sector.
The real estate sector topped gainers with 7.8% as Emaar Properties’s stock jumped 19.5% to AED 4.78, followed by Arabtec Holding with 13.90%, reaching AED 2.13, and Deyaar Development’s stock gained 2.7%.
The banks sector rose 7.5% as Emirates NBD’s stock surged 19.64%, while the transportation sector increased 7.32% after the stocks of Aramex and Gulf Navigation Holding went up 18.5%, and 0.24%, respectively.
The investment and financial services sector rose 4.4% as Dubai Investments’s added 9.6%, while the telecommunication sector and its only stock, Emirates Integrated Telecommunications Company (du), rose 5.4%, each.
The consumer staples sector grew 3.5% after Gulfa Mineral Water and Processing Industries’s stock skyrocketed 32.5%.
The UAE bourses reached important resistance levels over the previous period, supported by the stocks of Emaar Properties and DIB, vice president of Investment Research at KAMCO Raed Diab told Mubasher.
Translated by: Mohammad Hesham Azab
