By: Mahmoud Gamal
Dubai-Mubasher: Dubai Islamic Bank (DIB), Arabtec Holding, GFH Holding and Emaar Properties accounted for 55.6% of Dubai bourse’s liquidity.
DIB was the value leader with a turnover of AED 71.37 million, representing 24.5% of the market’s liquidity. The bank’s stock retreated 2.4% after trading 13.17 million shares through 521 transactions.
Portfolio investors decreased their positions in blue chips which reached their technical targets, according to capital market analyst Mohammed Al-Anzi.
Arabtec, which fell 14% to AED 0.86, generated AED 40.70 million which represented 14% of the market’s turnover.
GFH acquired 9.3% of the market’s liquidity after generating AED 27 million, falling 1.6% to AED 0.86.
Emaar retreated 0.7% to AED 6.64 and accounted for 7.8% of the market’s turnover after generating AED 22.76 million.
The UAE stocks stand at attractive price levels compared to their peers, Al-Anzi noted.
Translated by: Julian Nabil
