By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance in the week ended 24 November, backed by the rise of investment and real estate sectors.
The general index rose 1.21% or 40.2 points to reach 3,368.06 points.
Turnover stood at AED 5.44 billion this week, compared to AED 3.17 billion last week. Trading volume reached 4.54 billion shares, compared to 2.76 billion shares.
The Dubai bourse was backed by the rise of global markets, in addition to some positive news on the OPEC meeting, analyst Tarek Ghanam told Mubasher.
The investment sector rose 5.4% as SHUAA Capital and Dubai Investments climbed 6.12% and 4.35% respectively.
The investment sector is likely to see higher annual profits and dividends, the analyst noted.
The real estate sector increased 2.4% after Arabtec Holding advanced 5.6%.
Investors should not increase their positions until the main index stabilises above 3,300 points, Ghanam concluded.
Translated by: Julian Nabil
