Dubai-Mubasher: Dubai Financial Market (DFM) ended in the green on Sunday, backed by the rise of blue-chip stocks especially Dubai Islamic Bank (DIB) and Emaar Properties.
The DFMGI rose 0.3% or 9.5 points to reach 3,360.47 points.
Traders’ selective purchases witnessed in today’s session aimed to keep the market at its current level, according to capital market analyst Jamal Saab.
The market closed above 3,350 points, pushing the main index to approach 3,380 points, Saab explained.
The banks sector topped gainers after adding 1.16%, backed by the rise of DIB.
The consumer staples sector was the worst performer with a 1.4% decline, following the fall of Marka.
Turnover reached AED 286 million on Sunday, compared to AED 440.65 million.
Trading volume stood at 255.88 million shares, compared to 467.48 million shares.
Liquidity is still weak amid anticipation of Morgan Stanley Capital International’s revision (MSCI) by the end of May, in addition to expectations of lower oil prices, Saab added.
The analyst expected the market to continue its fluctuations on Monday, yet today’s rise push the general index to see resistance at 3,350 points.
