By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) maintained its positive performance on Monday, backed by blue chips topped by Emaar Properties and Arabtec Holding.
The general index went up 0.22% or 7.80 points to reach 3,538.68 points.
The DFM’s rise was mainly backed by build-up of positions in blue chips which reached attractive price levels, financial analyst Mahmoud Diab said.
The market needs to maintain its uptrend and see higher purchases to help the main index break above 3,580-point level, the analyst noted.
The DFMGI will fall below 3,000 points and target 2,850 points if it breaks below 3,850 points, Diab added.
The insurance sector topped gainers with a 6.56% rise, backed by Dar Al Takaful which added 14.8%.
The real estate sector increased 0.67% after Arabtec, Damac Properties and Emaar grew 1.53%, 1.2% and 0.7% respectively.
The investment sector levelled up 0.35% as DFM Company climbed 1.6%.
On the flipside, the banks sector fell 0.31% as Dubai Islamic Bank (DIB) declined 0.2%. The transportation sector decreased 0.12% after Marka slid 0.65%.
Turnover stood at AED 532.66 million on Monday, compared to AED 729.26 million last Thursday. Trading volume reached 562.26 million shares, compared to 488.29 million shares.
Dubai bourse is expected to maintain its volatile performance on Tuesday.
Translated by: Julian Nabil
