By: Mahmoud Gamal
Dubai – Mubasher: The main index of the Dubai Financial Market grew this week by 0.7% week-on-week or 24.94 points to the level of 3,583.62 points.
Trading volume decreased to 3.3 billion shares from 3.5 billion shares exchanged last week, turnover also shrank to AED 4.2 billion from AED 4.5 billion.
Analyst Amin Al Henawy said that the index was backed by the positive performance of blue chips, which reached promising levels after the OPEC decision.
“The index’s performance this week shows its inability to break above the level of 3,600 points,” Al Henawy told Mubasher.
The real estate sector advanced 2.33% as Union Properties, Arabtec and Emaar rose by 5.5%, 0.73% and 0.13% respectively.
The transportation sector grew 0.6%, backed by an increase of 1.5% in Air Arabia.
On the other hand, the investment sector declined 0.35% due to a fall of 0.8% in DFM Company; the banks sector dropped 0.34% as Dubai Islamic Bank shrank 2.8%.
Al Henawy expected the index to move downwards to the level of 3,425 points next week, in case of the index remained below 3,600 points.
Translated by: Elwy el-Manzalawy
