Dubai-Mubasher: Dubai Financial Market (DFM) continued its gains for the third session in row amid liquidity improvement on Sunday, spurred by the rise of blue chips.
The DFMGI rose 4.92% or 140.53 points to reach 2,997.77 points, nearing the 3,000-point level.
The UAE stock markets are likely to continue their speculative trend this week as portfolio investors are looking to promote their investments so as to end the month stronger at the time that oil and global markets are on the rise, analysts earlier told Mubasher.
Liquidity grew to AED 827 million ($225.2 million) on Sunday from AED 690 million on Thursday. Likewise, trading volume rose to 694.2 million shares from 633.74 million shares.
The banks sector went up 6.74%, followed by the investment, telecom and real estate sectors at 5.63%, 3.85% and 3.61%, respectively.
On the flipside, the industrial sector remained unchanged at close.
Emirates NBD topped gainers after rising 9.86%, while Dubai Investments and Dubai Islamic Bank (DIB) advanced 6.63% and 5.6% in a row.
Emaar Properties levelled up 4.5%, while Arabtec Holding inched up 0.84%. du’s stock jumped to AED 5.4 after expectations the company would raise foreign ownership ceiling to be listed on the MSCI Emerging Markets Index.
