By: Mahmoud Gamal
Dubai-Mubasher: Dubai Financial Market (DFM) saw an upward trend after six successive sessions of losses on Tuesday.
The main gauge rose 0.3% or 8.8 points to reach 3,275.11 points.
The market’s bullish performance was mainly attributed to positive speculations on blue chips and mid caps, technical analyst Thabet Al-Harbi said.
Today’s gains are not a signal that the market will continue its uptrend in light of the current weak liquidity, Al-Harbi explained.
The consumer staples sector advanced 3.2%, backed by Dubai Parks and Resorts which added 3.3% and became the value leader after generating AED 47.25 million.
The investment sector levelled up 0.5% as Dubai Investments went up 0.9%.
The real estate sector added 0.34%, propelled up by Damac Properties and Emaar Malls Group which added 1.5% and 1.47%, respectively.
On the flipside, the banks sector declined 0.09% after Emirates NBD fell 0.13%.
If the index continues its rise, it will exceed 3,282 points with strong liquidity to close above 3,311 points, Al-Harbi noted.
Trading volume reached 152.32 million shares on Tuesday, compared to 323.28 million shares on Monday.
Turnover nudged down to AED 191.7 million ($52.19 million) from AED 360.56 million ($98.17 million).
