By Mahmoud Gamal
Dubai – Mubasher: Dubai Financial Market (DFM) advanced during the second week in April, following a rebound in oil prices which fueled investors’ appetite to build new positions.
The main index rose by as much as 4.75% - the biggest rise in 10 weeks – with a gain of 160.82 points to close at 3,546.96 points.
The market rose to levels not reached in five months powered by the inflow of institutional and foreign liquidity, in addition to positive performance in regional markets, said Alaa Ahmed, capital market analyst.
The weekly traded value rose to AED 4.54 billion, from AED 3.2 billion, while traded volume increased to 3.4 billion shares from 3.2 billion shares.
The analyst expects the majority of liquidity to be directed next week to leading stocks mainly Emaar, DIB, Dubai Parks and Emaar Malls.
Market capitalisation added around AED 10 billion to reach AED 311.6 billion, up from AED 301.61 billion a week earlier.
The real estate sector was the best performer, with a rise of 7.3% after Emaar advanced by 12.13%.
The banks sector added 1.6% as DIB rose by 3.17%. The investment sector gained 6.5% backed by DFM Company that rose by 12.8%.
