By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index rose 17.5 points, or 0.57%, to close at 3,065.96 points on Monday on the back of selective buying transactions.
The continuance of cherry-picking deals on some blue chips, especially Emaar Properties, pushed up the market today, NamaaZone's CEO Iyad Aref told Mubasher.
The real estate market added 1.14% after Emaar Properties grew 2.66% to AED 5.79 and Emaar Development gained 0.9% to AED 5.55, while Damac Properties went up 1.84%.
The banks sector increased by 0.7% after Dubai Islamic Bank (DIB) added 0.73% to AED 5.5, while the transportation sector gained 0.25%, as Air Arabia levelled up 0.83%.
On the other hand, the investment sector shed 1.1% after Dubai Investment lost 1.5% to AED 1.9.
The DFM’s trading volume surged to 146.17 million shares from 106.91 million on Sunday, while the market’s liquidity nearly doubled to AED 235.44 versus AED 121.2 million in the previous session.
The market is likely to grow on Tuesday, therefore, it is highly advisable for investors to strengthen their positions in financially solvent stocks, Aref said.
Translated by: Mohammad Khalid
