By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) trimmed its early losses on Sunday, backed by the rise of investment stocks.
However, the main index fell 0.26% or 8.69 points to reach 3,383.31 points.
The market managed to hold on purchases of mid-cap stocks and some dual-listed stocks led by GFH Financial Group which climbed 14.36%, technical analyst Gamal Mosaad said.
The investment sector rose 1.35% as SHUAA Capital went up 9.26%. The transportation sector also gained 0.68% after Aramex increased 1.9%.
The insurance sector increased 0.42% after Dar Al Takaful levelled up 0.42%.
The markets saw speculations on stocks with a value of less than AED 1, Mosaad noted.
The banks sector declined 1.12% after Dubai Islamic Bank (DIB) retreated 1.4%. The real estate sector went down 0.13% as Emaar Malls Group (EMG) and Emaar Properties sank 1.98% and 0.4%, respectively.
Trading volume reached 179.12 million shares on Sunday, compared to 144.88 million shares last Thursday. Turnover amounted to AED 273.28 million, compared to AED 217.03 million.
Portfolio investors are expected to increase their positions in small- and mid-cap stocks next week, which reached price levels that are more attractive than those of blue chips, Mosaad added.
Translated by: Julian Nabil
