Dubai-Mubasher: Dubai Financial Market (DFM) saw the biggest one-day gains one year amid the positive performance of leading stocks topped by Emaar Properties, Arabtec Holding and Dubai Islamic Bank, backed by the rise of oil prices and global markets.
The UAE markets are expected to recover in the fourth week of 2016 amid the rise of oil prices and positive performance of global markets, as well as renewed appetite of portfolios to accumulate shares and speculate on some selective stocks, analysts earlier told Mubasher.
The DFMGI closed at 2,757 points, rising 135 points or 5.15%; the biggest one-day gains since 2014.
Turnover reached AED 591 million ($88.26 million) on Sunday, compared to AED 324.17 million ($88.26 million) on Thursday. Trading volume rose to 504.17 million shares, from 297.17 million shares.
The real estate sector led risers after growing 7.87%, followed by the investment, banks and telecom sectors at 5.94%, 3.4% and 0.39% in a row.
On the stock-level, Arabtec Holding added 10%, followed by Emaar Properties, Dubai Islamic Bank and Emirates NBD at 8.03%, 5.2% and 3.42%, respectively.
