By: Mahmoud Gamal
Dubai-Mubasher: Dubai Financial Market (DFM) continued to see gains for the second session in a row on Wednesday, amid growth of purchasing power, analysts told Mubasher.
The DFMGI advanced 0.78% or 27.22 points to reach 3,501.04 points.
Dubai market was backed by investors who are strengthening their positions in blue chips like Emaar Properties, in addition to the uptrend of oil and global markets, capital market analyst Ahmed Al-Zahouri said.
Trading volume reached 601.65 million shares on Wednesday, compared to 788.9 million shares on Tuesday.
Turnover slid to AED 846.62 million from AED 995.6 million.
The investment sector gained 2.9% as Dubai Investments levelled up 2.5%.
The real estate sector was up 1.5%, thanks to Emaar which rose 2.74% to AED 6.38, its highest price level in five months.
The consumer staples sector grew 1.4% as Dubai Parks and Resorts went up 1.5%.
The DFMGI is expected to maintain its rise on Thursday and target 3,560 points, Al-Zahouri noted.
