By: Mahmoud Gamal
Dubai-Mubasher: Dubai Financial Market (DFM) closed in the green on Thursday for the third session in row.
The DFMGI increased 0.9% or 30.94 points to reach 3,355.53 points.
Dubai market’s uptrend is mainly attributed to the rise of global stocks, in addition to purchases of blue chips, capital market analyst Salam Saeed told Mubasher.
The real estate sector gained 1.7% as Drake and Scull International, Emaar Properties and Emaar Malls Group levelled up 4.25%, 2.4% and 1.05%, respectively.
The consumer staples sector increased 0.7% after Dubai Parks and Resorts advanced 0.8%.
The banks sector recovered 0.5% due to a rise in Dubai Islamic Bank (DIB) by 1.54%.
Trading volume reached 441.7 million shares on Thursday, compared to 393.9 million on Wednesday.
Turnover stood at AED 485.7 million, compared to AED 505.75 million.
Today’s volatile liquidity was slightly affected by the decline of oil prices and Asian stocks, the analyst said.
The Dubai’s main index is expected to target 3,370 points next week if the oil prices stabilise above $39, Saeed noted.
