By: Mahmoud Gamal
Dubai-Mubasher: The Dubai Financial Market (DFM) continued its rise on Sunday, backed by the positive performance of global exchanges and oil markets.
The general index rose 1.12% or 38.86 points to reach 3,511.24 points.
The industrial sector topped gainers after rising 14.9% as National Cement Company (NCC) advanced 14.9%. Similarly, the consumer staples sector went up 1.8% due to an increase in Dubai Parks and Resorts.
The transportation sector also grew 1.6% as Air Arabia closed higher, while the investment sector advanced 1.5% on Dubai Investments.
The real estate sector levelled up 1.3% in line with the rise of Emaar Properties and Arabtec Holding.
The banks sector also climbed 0.6% after Dubai Islamic Bank (DIB) gained 1.13%.
Dubai bourse managed to maintain its gains due to the rise of global exchanges, especially the US stock market, in addition to the stability of oil prices above $44 per barrel, market analyst Gamal Abdel Hamid told Mubasher.
Liquidity rose 23% to AED 292.58 million on Sunday, compared to AED 237.65 million last Thursday. Trading volume also grew 9.5% to 187.43 million shares, compared to 171.24 million shares.
The main index is likely to continue its uptrend on Monday, targeting 3,550 points, Abdel Hamid expected.
The analyst advised traders to increase their positions in blue chips which gave an “entry” signal like Emaar and Arabtec.
Translated by: Julian Nabil
