By: Mahmoud Gamal
Dubai-Mubasher: Dubai Financial Market (DFM) closed in the green territory on Thursday, backed by selective purchase which pushed most sectors up, with liquidity rising to the highest level in February.
The general index gained 1.17% or 35.68 points to reach 3,092.89 points.
The UAE markets were positively affected by recovering global and oil markets, said capital market analyst Majed Al-Harbi.
Al-Harbi added that speculations sparked by investors who made use of healthier positions of neighboring markets and the attractive price levels of most leading stocks locally.
Turnover reached AED 622.13 million ($169.3 million) on Thursday, compared to AED 314.4 million ($85.57 million) on Wednesday. Trading volume rose to 584.48 million shares from 298.28 million shares.
Al-Harbi noted that high trading volume reflected flows of hot money into the local market.
The investment sector rose 3.8% after Dubai Investments advanced 4.02%.
The services sector went up 3.08% due to an increase in Amanat Holdings by 2.8%.
The real estate sector levelled up 1.4% after Emaar Malls, Emaar Malls Group and Arabtec Holding grew 1.6%, 1.5% and 0.9%, respectively.
The banks sector grew 0.38% as Dubai Islamic Bank went up 1.7%.
Translated by: Julian Nabil
