By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Sunday, spurred by the build-up of new positions in some stocks.
The general index rose 0.67% or 24.16 points to reach 3,647.91 points.
The banks sector added 2.2% as Dubai Islamic Bank (DIB) and Ajman Bank gained 3.9% and 1.36% respectively.
The services sector grew 1.27% as Tabreed jumped 4.35%. The real estate sector also gained 0.29% after Emaar Properties levelled up 0.7%.
The investment sector increased 0.18% after SHUAA Capital and Gulf General Investment (GGICO) climbed 3.9% and 0.4% respectively.
The market’s gains were attributed to tendency of some portfolio investors to increase their positions in blue chips, in addition to the rise of global stocks and oil prices, capital market analyst Hareb Omar told Mubasher.
On the flipside, the transportation sector fell 0.12% after Gulf Navigation Holding sank 1.83%.
Trading volume reached 429.3 million shares on Sunday, compared to 690.88 million shares last Thursday. Turnover amounted to AED 844.8 million, compared to AED 1.044 billion.
The DFMGI is expected to see a positive performance on Monday, with its main index likely to rise to 3,680 points, Omar said.
Translated by: Julian Nabil
