By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Wednesday, backed by some blue chips topped by Dubai Islamic Bank (DIB).
The DFMGI rose 0.15% or 5.38 points to reach 3,540.6 points.
The market’s rebound was mainly backed by selective purchases of stocks which reached attractive price levels, technical analyst Ahmed Ismail told Mubasher.
The DFM is expected to see a sideways-to-bullish performance in the coming period, the analyst added.
Investors are anticipating companies’ first-quarter financials which are expected to have a significant impact on the market’s trend, Ismail noted.
The banks sector topped gainers with a 1.01% rise as Dubai Islamic Bank (DIB) went up 1.72%. The transportation sector increased 0.39% after Air Arabia and Gulf Navigation Holding rose 0.94% and 0.68%, respectively.
On the other hand, the investment sector retreated 0.38% as SHUAA Capital slid 2.3%. The real estate sector tumbled 0.23% due to a decline in Arabtec Holding by 0.86%.
The market saw trading of 335.65 million shares through 4,171 transactions, with a turnover of AED 390.81 million.
Translated by: Julian Nabil
