By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index grew 1.89% to close at 2,964.13 points on Thursday on the back of a selective purchasing trend following the listing of Emaar Development in the MSCI Emerging Markets Index.
For four sessions, the DFM has been impacted by the global markets' declines, but investors regained their appetite after the listing of Emaar Development in MSCI EMI, MubasherTrade’s senior sales trader Mohab Maher told Mubasher.
The banks sector surged 3.6% after Dubai Islamic Bank (DIB) soared 5.85% to AED 5.07, while the investment sector added 2.23%, as Dubai Investments grew 3% to AED 2.06.
The real estate sector rose 1.27% after Emaar Properties increased by 2.16% to AED 5.2 and Arabtec Holding levelled up 2.09% to AED 1.95, while Emaar Development shed 0.75%.
The DFM’s trading volume reached 555.36 million shares, while the market’s liquidity hit AED 902.97 million.
Emaar Development led the market in terms of volume and value, with 52.33 million shares exchanged and a turnover of AED 278.62 million.
Translated by: Muhammad Khalid
