By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index added 19.26 points, or 0.67%, to close at 2,880.42 points on Thursday on the back of selective purchases.
Investors have rushed to collect shares at attractive prices, which could encourage investment funds and foreign investors to inject more liquidity in the market, vice president of Investment Research at KAMCO Raed Diab told Mubasher.
The market is waiting for the bi-annual disclosures, which has mitigated the effects of The Abraaj Group’s crisis on investors’ sentiment, Diab added.
The consumer staples sector added 1.9%, as DXB Entertainments rose 2.12% to AED 0.337, while the transportation sector went up 1.65% after Gulf Navigation soared 8.77% to AED 0.98 and Air Arabia increased by 0.5%.
The investment sector levelled up 1.57%, as Dubai Investments gained 2.1% to AED 1.94.
The telecommunication sector and its only stock, Etisalat, grew 1.02% each, while the banks sector went up 0.18%, as Dubai Islamic Bank (DIB) added 0.2% to AED 4.98.
The DFM’s trading volume reached 226.03 million shares, while the market’s liquidity hit AED 235.99 million.
Translated by: Muhammad Khalid
