By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a bullish performance on Sunday, amid increased purchases of blue chips.
The DFMGI went up 0.72% or 26.6 points to close at 3,716.98 points.
The investment sector rose 2.3% after SHUAA Capital and Dubai Investments increased 13.6% and 1.6% respectively.
The services sector jumped 1.3% as Amanat Holdings grew 1%. Likwewise, the insurance sector went up 1% after Dubai Islamic Insurance and Reinsurance Co. (AMAN) advanced 5%.
The real estate sector increased 0.8% due to a rise in Emaar Properties and Arabtec Holding rose 0.8% and 0.7% respectively. The banks sector also levelled up 0.53% as Emirates Islamic Bank (EIB) and GFH Holding advanced 14.7% and 14.6% respectively.
The transportation sector grew 0.17% as Gulf Navigation and Aramex climbed 1.24% and 1% respectively.
The market was boosted by the tendency of most portfolio investors to increase their positions in blue chips amid optimism for annual results of leading firms, in addition to the rise of oil prices, capital market analyst Mohamed Ismail told Mubasher.
The market saw trading of 971.2 million shares through 9,030 transactions, with a turnover of AED 1.25 billion.
Dubai’s bourse is expected to rise on Monday, Ismail said, adding that small investors should not increase their positions until the main index breaks above 3,720 points.
Translated by: Julian Nabil
