By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) ended Monday’s trading session in the green, its second in a row, supported by gains from its leading stock Dubai Islamic Bank (DIB).
The DFMGI grew 0.45% or 15.28 points and closed at 3,417.94 points. Turnover amounted to AED 303.53 million, up from AED 291.2 million on Sunday, while traded volume increased slightly to 200.73 million shares traded compared to 197.54 million.
The real estate sector led gainers, adding 1.01% after Damac and Emaar Malls grew 3.62% and 2.08%, respectively.
The transport sector increased 0.70% after Air Arabia rose 1.96%. The banking sector’s relatively heavy-weighted DIB added 0.36%.
The DFM continues to maintain its position above 3,400 points, following a series of purchases by investors on selected companies’ stocks, analyst Mohamed Saeed told Mubasher.
He noted that traders were awaiting the upcoming disclosures for companies’ second-quarter and first-half results.
We might see some slight declines as part of a normal correction; however, we do not expect any sharp drops in the coming period, the analyst told Mubasher.
The DFMGI needs to close above 3,465 points in order to attract more trades and rise towards 3,485 points, Saeed concluded.
Translated by: Nada Adel Sobhi
