By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) closed Monday in the green, backed by its blue-chip stocks Emaar Properties and Dubai Islamic Bank (DIB).
The DFMGI added 0.75% or 25.65 points, closing at 3,440.58 points. Turnover reached AED 642.67 million after 518.26 million shares changed hands through 4,210 transactions.
Market gains on Monday can be attributed to some companies’ financial disclosures which restored confidence to an extent, said market analyst Ahmed Ismail.
The real estate sector grew 1.11% after Union Properties surged 3.9% following an announcement that its investments were not affected by the dispute between its board members. Moreover, Emaar gained 0.96%.
The banks sector increased 0.6% after DIB gained 0.86%, while the investment sector edged up 0.04% as DFM Company levelled up 0.87%.
The analyst advised traders to be cautious on the DFM in the coming period, noting that minority investors and speculators mostly dominate the low liquidity levels.
Translated by: Nada Adel Sobhi
