By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Monday, despite the increase of Dubai Investments and Dubai Islamic Bank (DIB).
The DFMGI fell 0.07% or 2.55 points to reach 3,635 points.
The market’s stability reflects that non-Arab traders still hold their positions, according to Fady El-Ghattis, CEO of Topsy Turvy.
Traders continue to make selective purchases of stocks, especially the speculative ones, El-Ghattis said.
The investment sector rose 0.87% as Al Ramz Corporation Investments and Developments and Dubai Investments went up 14.5% and 0.43%, respectively.
The banks sector increased 0.24% as GFH Financial Group and Dubai Islamic Bank (DIB) went up 2.2% and 0.5%, respectively.
The telecom sector led losers with a 1.24% decline as du went down 1.24%. The real estate sector also sank 0.5% after Damac Properties and Emaar Malls Group (EMG) tumbled 1.5% and 1.22%, respectively.
Turnover amounted to AED 209.77 million on Monday, compared to AED 215.96 million on Sunday. Trading volume reached 154 million shares, compared to 116.06 million shares.
The level of liquidity is good amid anticipations of good news in September, El-Ghattis noted.
The DFMGI is still moving upward and targets 3,730 points, El-Ghattis said.
Translated by: Julian Nabil
