By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Tuesday, backed by the build-up of new positions in the banks and real estate sectors.
The general index increased 1.31% or 44.66 points to reach 3,452.41 points.
The banks sector topped gainers with a 2.5% rise as Dubai Islamic Bank (DIB) went up 4.34%. The consumer staples sector increased 2.16% after DXB Entertainments grew 2.22%.
The real estate sector climbed 1.09% as Union Properties (UP) and Emaar Properties levelled up 5.05% and 0.8% respectively.
The main index maintained its uptrend due to the rise of real estate stocks, in addition to the recovery of global markets, Raed Diab, vice president of Investment Research Department in KAMCO, told Mubasher.
The investment sector rose 0.36% as DFM Company and Dubai Investments went up 2.52% and 0.43% respectively.
On the flipside, the transportation sector fell 0.09% as Aramex retreated 0.4%.
Trading volume reached 825.2 million shares on Tuesday, compared to 666.35 million shares on Monday. Turnover stood at AED 1.10 billion, compared to AED 804.9 billion.
Closure of the DFMGI above 3,370-3,400 points is a positive signal, Diab said, adding that the index targets to reach 3,500-3,550 points.
Translated by: Julian Nabil
