By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Tuesday, backed by the rise of three sectors led by the banks and investment.
The general index rose 0.09% or 3.31 points to reach 3,672.31 points.
Volatility of Dubai’s bourse is mainly attributed to the inability of the main index to break above 3,750 points, according to Raed Diab, Vice President of Investment Research Department in KAMCO, told Mubasher.
The insurance sector topped gainers with a 2.23% rise as Dubai Insurance Co. and Islamic Arab Insurance Co. (SALAMA) went up 14.8% and 3.3% respectively.
The banks sector rose 0.4% as Dubai Islamic Bank (DIB) added 0.5%. Likewise, the investment sector grew 0.3% after DFM Company levelled up 0.3% and 1.5% respectively.
The market is expected to maintain its fluctuations in the coming sessions till its trend becomes clearer, Diab added.
On the other hand, the transportation sector declined 0.8% after Gulf Navigation Co. and Emaar Properties levelled down 0.36% and 1.05% respectively.
Trading volume reached 936.58 million shares on Tuesday, compared to 485.09 million shares on Monday. Turnover reached AED 1.04 billion, compared to AED 604.65 million.
The DFMGI may fall to 3,560 points if it moves below 3,600 points, Diab added.
Translated by: Julian Nabil
