By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) maintained its positive performance on Tuesday, backed by the rise of blue chips especially Dubai Islamic Bank (DIB) and Arabtec Holding.
The general index rose 0.67% or 22.15 points to reach 3,340.27 points.
The market was backed by the increase of positions in some blue chips which reached attractive price levels, technical analyst Mohamed Saeed told Mubasher.
The market was backed by purchases of troubled companies’ stocks like Arabtec, he added.
The DFM needs to exit its downtrend to be able to break above 3,400 points, Saeed noted.
The consumer staples sector went up 2.15% after DXB Entertainments climbed 2.3%.
The banks sector added 0.73% as Ajman Bank and Dubai Islamic Bank (DIB) went up 3.42% and 1.04%, respectively.
The real estate sector rose 0.65% after Arabtec and Drake and Scull International (DSI) went up 4.03% and 1.75%, respectively.
On the other hand, the investment sector dropped 0.08% as Dubai Investments declined 0.5%.
Turnover amounted to AED 213.73 million on Tuesday, compared to AED 267.88 million on Monday. Trading volume reached 184.71 million shares, compared to 222.52 million shares.
Translated by: Julian Nabil
