By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) succeeded in reversing its earlier losses to close in the green on Sunday, on the back of blue chip stocks, particularly Arabtec.
The DFMGI grew 0.47% or 16.37 points and closed at 3,488.27 points. Turnover and traded volume increased to AED 453 million after 363.86 million shares changed hands against Thursday’s turnover of AED 411.44 million and 302 million shares traded.
The investment sector led risers, adding 0.53%, backed by SHUAA Capital and DFM Company which grew 1.7% and 0.7%, respectively. The real estate sector increased 0.5% after Arabtec jumped 4.7%.
The banking sector levelled up 0.13% after the Commercial Bank of Dubai (CBD) gained 5% following the announcement of its financials for Q2-16 earlier today. Emirates NBD added 0.24%.
On the other hand, the consumer staples sector shed 0.47%, after Dubai Parks lost 0.6%.
Traders and investors’ interest in increasing their positions in leading stocks such as Arabtec has led to Sunday’s gains, market analyst Gamal Abdel Hamid told Mubasher.
He advised DFM traders to grow their portfolios in the coming period as stocks were at attractive price levels.
Translated by: Nada Adel Sobhi
