By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index grew 47.39 points, or 1.6%, to close at 3,034.64 points on Monday on the back of blue chips.
Foreign investors and investment portfolios showed a big appetite for blue chips, pushing the DFMGI to over 3,032 points, technical analyst Gamal Abdul Hamid told Mubasher.
The general index is expected to rise above 3,067 points and then reach 3,193 points, Abdul Hamid added.
The transportation sector added 2.8% after Aramex soared 6.6% to AED 4.05, while the real estate sector increased by 2.44%, as Emaar Properties, Damac Properties, and Arabtec Holding jumped 2.6%, 2.5%, and 2.49%, respectively.
The investment sector grew 1.34% after Dubai Investments gained 1.46% to AED 2.08 and DFM Company went up 0.9%.
The banks sector rose 0.76% after Abu Dhabi Commercial Bank (ADCB) soared 7.7% and Dubai Islamic Bank (DIB) levelled up 0.58.
The telecommunication sector and its only stock, du, gained 0.62%, while the services sector added 0.47% after Tabreed levelled up 1.16% to AED 1.75.
The DFM’s trading volume reached 250.58 million shares, while the market’s liquidity hit AED 393.75 million.
DIB led the DFM in terms of liquidity, with a turnover of AED 69.05 million.
Translated by: Muhammad Khalid
