By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Tuesday, backed by active trades on blue chips.
The general index added 0.64% or 21.94 points to reach 3,439.88 points, its highest level since 20 June.
The market rose for the third time in row, spurred by the accumulation of blue chips in the banks and real estate sectors, Raed Diab, vice president of the investment research department at KAMCO, told Mubasher.
There is currently a positive sentiment in the market, amid anticipations of first-half financial disclosures, Diab explained.
The telecom sector led gainers with a 1.71% rise as du went up 1.71%. The banks sector grew 1.35% after Dubai Islamic Bank (DIB) grew 1.42%.
The investment sector went up 0.77% as Dubai Investments rose 1.43%. The real estate sector added 0.44% after Arabtec Holding gained 0.6%.
The market saw trading of 214.92 million shares on Tuesday, compared to 200.73 million shares on Monday. Turnover amounted to AED 241.29 million, compared to AED 303.53 million
Traders are awaiting the main index to reach 3,465 points, from which it will move higher to 3,515 points, Diab concluded.
Translated by: Julian Nabil
