By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Monday, backed by the rise of transportation, investment and real estate stocks.
The general index went up 0.34% or 12.63 points to reach 3,678.79 points.
The transportation sector increased 4.05% as Aramex climbed 8.96%.
Portfolio investors tended to build new positions on the back of many factors like Aramex’s higher-than-expected annual financials, capital market analyst Mohamed Saeed told Mubasher.
The investment sector rose 1.78% after Dubai Investments grew 2.03%. The real estate sector levelled up 0.26% as Arabtec Holding added 3.01%.
Positive outlook for Arabtec Holding’s annual results encouraged some investors to trade on real estate stocks in Monday’s session, according to Mohamed Radwan, a member of the International Federation of Technical Analysts (IFTA).
The banks sector led losers with a 1.04% decline as Mashreq Bank and Dubai Islamic Bank (DIB) slid 5.6% and 1.15% respectively.
Turnover stood at AED 900.94 million on Monday, compared to AED 773.22 million on Sunday. Trading volume reached 581.68 million shares, compared to 500.89 million shares.
The main index reached levels which will enable it to approach 3,550-3,600 points, Saeed added.
Translated by: Julian Nabil
