By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index added 43.17 points, or 1.4%, to close at 3,132.97 points on Wednesday, its highest level in three months, on the back of a thin buying trend.
The DFM’s trading volume rose to 132 million shares from 114.31 million on Tuesday, while the market’s liquidity increased to AED 210.16 million versus AED 200.57 million in the previous session.
The DFM wants fresh market-boosting catalysts to encourage investors to pump more liquidity into the market, senior financial analyst at Mena Corp Issam Kassabieh told Mubasher.
Some portfolios have begun to exit the Emirati market gradually in order to enter Saudi and Kuwaiti peers, but they will probably return to the UAE after Islam's holy month of Ramadan, Kassabieh added.
The services sector surged 2.62% after Tabreed soared 5.6% to AED 1.7, while the real estate sector grew 2.5%, as Emaar Properties jumped 4.7% to AED 5.93.
The investment sector rose 2.12% after the DFM Company gained 2.8% to AED 1.02.
The banks sector went up 0.54%, as Emirates NBD grew 0.98% to AED 10.35.
The consumer staples sector levelled up 0.2% after DXB Entertainments rose 0.46% to AED 0.441.
On the other hand, the transportation sector shed 0.77%, as Air Arabia lost 1.7% to AED 1.19.
DXB Entertainments led the DFM in terms of volume, with 21.5 million traded shares, while Emaar Properties topped the market in terms of liquidity, with a turnover of AED 53.6 million.
Translated by: Muhammad Khalid
