By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index rose 0.15% or 5.17 points to 3,468.65 points on Thursday, dragged down by the banks and real estate sectors.
The DFM saw a cherry-picking trend on blue chips in the last trading session this week, said technical analyst Gamal Abdul Hamid.
The consumer staples sector surged 2.75% after DXB Entertainments soared 3% to AED 0.652, while the services sector upped 2.01% after Amanat Holdings went up 3.45% to AED 1.5.
The transportation sector increased by 1.18%, as Aramex rose 2.35% to AED 4.35, while the banks grew 0.3%, as Dubai Islamic Bank (DIB) gained 0.62%.
The real estate sector inched up 0.09% after Emaar Malls levelled up 1.3%.
On the other hand, Dubai Investments shed 1.98% to AED 2.48, while Arabtec Holding and Emirates NBD lost 0.38% to AED 2.66 and 0.35% to AED 8.52, respectively.
The DFM’s trading volume rose to 246.93 million shares from 239.64 million on Wednesday, while the market’s liquidity grew to AED 326.16 million, compared to AED 313.16 million in the previous session.
The market is still suffering a shortage of liquidity, amid investors’ anticipation regarding the coming disclosures, Abdul Hamid commented.
Technically, the DFMGI is expected to rise to 3,473-point and 3,488-points levels, but if it does not break above 3,473 points, it is likely to drop to 3,457 points and then to 3,450 points.
Translated by: Muhammad Khalid
