By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index grew 1.4%, or 47.6 points, to 3,450 points on Wednesday, on the back of higher buying transactions.
The continuous buying trend in the market, due to the attractive prices of the stocks, boosted the DFMGI, Mena Corp’s financial analyst Issam Kassabieh told Mubasher.
The rising wave today pushed up some declined stocks to top the gainers, especially DXB Entertainments.
The consumer staples sector surged 4.8% after DXB Entertainments and Marka soared 4.9% to AED 0.673 and 4.06% to AED 0.590, respectively.
The main drive for DFMGI’s growth today is the investments sector's gains, along with Emaar Properties’ and Emaar Malls', Kassabieh continued.
The investment sector levelled up 2.05% after Dubai Investments added 2.5% to AED 2.48, while the DFM Company rose 0.8%.
The real estate sector increased by 2.05%, as Emaar Development and Emaar Malls went up 3.8% and 1.8%, respectively, while Emaar Properties grew 3.5% to AED 7.4.
The expected high amounts of dividends are definitely the main reason for the growth of Emaar Group’s shares, which is expected to continue, the analyst stated.
The insurance sector added 0.8% after AMAN levelled up 2.3% to AED 0.833, while the banks sector went up 0.6% after Amlak Finance increased by 0.9% to AED 1.03, while Dubai Islamic Bank (DIB) rose 0.8%.
The transportation sector inched up 0.03%, as Air Arabia grew 0.8% to AED 1.26.
The DFM’s trading volume surged 79.5% to 323.27 million shares from 180.09 million shares on Tuesday, while the market’s liquidity soared 74.1% to AED 441 million, compared to AED 253.3 million in the previous session.
GFH Group’s stock, which reached AED 1.52, was the most actively-traded stock in terms of liquidity, with a turnover of AED 93 million and 60 million traded shares.
Translated by: Muhammad Khalid
