By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw significant gains on Monday, backed by a rise in portfolio investors’ purchases of Emaar Properties and Drake and Scull International (DSI).
The DFMGI rose 1.16% or 39.33 points to reach 3,427.28 points.
The market was backed by DSI’s news of having a new strategic shareholder, capital market analyst Gamal Saad told Mubasher.
DSI former CEO Khaldoun Tabari has sold his stake in the company to Tabarak Investment, as Zawya reported on Sunday.
There were also news regarding Emaar’s new tenders for Expo 2020 sites, in addition to a plan to offer up to 30% of its UAE property development business through an initial public offering (IPO) on Dubai’s bourse.
The investment sector gained 2.12% due to an increase in DFM Company by 2.63%. The real estate sector levelled up 1.96% as Emaar and DSI added 3.03% and 2.4%, respectively.
Trading volume reached 494.92 million shares on Monday, compared to 276.52 million shares on Sunday. Turnover amounted to AED 568.16 million, compared to AED 268.92 million.
Translated by: Julian Nabil
