By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Sunday, backed by the rise of blue chips.
The DFMGI rose 1.01% or 35.6 points to reach 3,573 points.
The market was supported by the positive outlook for second-quarter financials of major companies topped by Emaar Properties and Damac Properties, according to Eyad Al Bouriki, general manager of Al Ansari Financial Services.
The investment sector grew 1.51% as SHUAA Capital, DFM Company, and Dubai Investments went up 3.3%, 1.7%, and 1.34%, respectively.
The real estate sector increased 1.4% after Damac Properties and Drake and Scull International (DSI) advanced 6.5% and 1.5%, respectively.
Damac saw gains amid higher local and Arab investments in its stocks liquidity, especially that its balance is strong, Al Bouriki added.
The transportation sector gained 0.4% due to a rise in Air Arabia and Gulf Navigation by 0.96% and 0.72%, respectively.
On the other hand, the consumer staples sector went up 0.42% after Marka and DXB Entertainments rose 0.7% and 0.4%, respectively.
Turnover amounted to AED 252.25 million on Sunday, compared to AED 516.24 million last Thursday. Trading volume reached 175.9 million shares, compared to 278.9 million shares.
Union Properties (UP) was the most active stock after trading 23.23 million shares, while Damac Properties was the value leader with a turnover of AED 45.75 million.
Dubai’s bourse is expected to continue its rise amid positive expectations for the Q2 financial results of blue chips, the analyst noted.
Translated by: Julian Nabil
