By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index edged up on Wednesday on the back of blue chips, led by Arabtec Holding.
The DFMGI inched up 0.02%, or 0.77 points, to close at 3,394.51 points.
The investment sector rose 0.83% after Dubai Investments grew 1.3%.
The real estate sector levelled up 0.3%, as Arabtec Holding increased by 2.15% to AED 2.38.
The investor's tendency to trade blue chips, particularly Dubai Investments, caused Wednesday’s limited growth on the market, Mena Corp financial analyst Issam Kassabieh told Mubasher.
Drake and Scull International (DSI) topped the DFM’s gainers, surging 9.6% to AED 2.05, after 124.26 million shares were traded, generating AED 248.29 million.
On the other hand, the banks sector shed 0.24%, as Mashreq Bank lost 6.25%.
Meanwhile, Dubai Islamic Bank (DIB) went up 0.33% to AED 6.08.
The DFM’s trading volume reached 241.06 million shares versus 137.22 million shares on Tuesday, while the market’s turnover nearly doubled to AED 483.38 million, compared to AED 279.6 million.
Translated by: Muhammad Khalid
