By: Mahmoud Gamal
Dubai - Mubasher: The Dubai Financial Market (DFM) continued the upwards trend and ended Monday’s trading in green for the second consecutive session, as purchasing powers returned to blue chip stocks.
The general index added 1.2% or 43.43 points, its highest gains since the beginning of January, and closed at the level of 3,691.34 points.
Financial analyst, Mohamed Ismail, told Mubasher that the market received great support from the financial results of GFH as it exceeded expectations, which pushed traders towards stocks which financials that are yet to be released.
We are still waiting for the main index to go beyond 3,670 points, and it is then expected to resume the rising trend, Ismail added.
The services sector grew 2.67%, as Amanat Holdings rose by 4.3%, while the real estate sector increased by 1.68%, as Emaar and Union Properties both gained 2.7% each.
The investment sector added 1.6%, as DFM, Dubai Investments went up by 3.9% and 1.6% respectively, while banks levelled up 0.8% as DIB and GFH gained 0.9% and 0.36% respectively.
Traded values increased to AED 850.8 million compared to AED 844.8 million on Sunday, while volumes reached 478.9 million shares up from 429.3 million shares in last session.
