Dubai – Mubasher: The Dubai Financial Market (DFM) opened Wednesday in positive territory, supported by the banks and real estate sectors.
The benchmark index reached the level of 3,087.2 points in early trading after rising 0.27% or 8.45 points.
DFM closed Tuesday in red, making a three-day fall run.
Analysts expected attempts by UAE’s markets to absorb the effects of the Saudi-Iranian crisis, amid investor desire to exploit selective shares at attractive buying levels.
The services sector headed the green list with a growth of 2%, supported by a rise of 2.73% by Amanat, followed by the banks sector which added 0.77% as Dubai Islamic Bank and Amlak Finance moved up 1.35% and 2.3%, respectively.
Meanwhile, the investment sector’s gains came to 0.36% as DFM rose by 1.75% and Dubai Investments stood at the same rates.
However, the telecom sector was the top loser with a fall of 0.4% as Emirate Integrated Telecom (DU) slipped AED 5.050. Coming in as the second worst sectoral decline, real estate lost 0.11%.
Trading volume reached about 45 million shares exchanged at AED 39.13 million through 497 trades.
