By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index increased by 0.55%, or 19.07 points, to 3,490.16 points, on Monday, with higher liquidity.
The market’s liquidity surged to AED 620.61 million from AED 486.62 million on Sunday, while the trading volume soared to 424.74 million shares, compared to 344.96 million shares in the previous session.
Investors, especially foreigners’, positive expectations about listed companies' annual dividends and financial results boosted the DFMGI today, said Mena Corp’s financial analyst Issam Kassabieh.
The consumer staples sector grew 1.5% after DXB Entertainments added 1.6% to AED 0.706, while the insurance sector went up 1.25%, as Salama and Dar Al Takaful levelled up 2.45% to AED 0.544 and 2.16% to AED 0.945, respectively.
The news regarding new projects planned by the listed companies, such as Arabtec Holding and Amlak, pushed up some stocks, Kassabieh continued.
The investment, real estate, and banks sectors rose 1.14%, 0.9%, and 0.23%, respectively, after Arabtec Holding increased by 1.9%, while Dubai Investments and Dubai Islamic Bank (DIB) grew 1.6% each.
On the other hand, the telecommunication sector and it’s only stock du shed 0.76%, while the services sector tumbled 0.65% after Tabreed lost 1.6%.
The transportation sector dropped 0.53%, as Gulf Navigation and Air Arabia levelled down 3.23% and 0.8%, respectively.
Drake and Scull International (DSI), which sank 0.4% to AED 2.29, topped the DFM in terms of both trading volume and value after 90.46 million shares were traded, with a turnover of AED 213.47 million.
It is all likely that investors would hold their shares and seek more profits after the disclosure of the seemingly positive financial results, the analyst concluded.
Translated by: Muhammad Khalid
