By :Mahmoud Gamal
Dubai – Mubasher: Deyaar Development’s stock saw the most active trades since mid-June during Sunday’s trading session.
The stock went up 4.6% to AED 0.56, pushing the real estate sector to gain 1.9%.
Deyaar saw trading of 79.69 million shares by 1:12pm UAE time, representing 5.7% of the market’s liquidity worth AED 781.65 million.
Some portfolio investors tended to build new positions in Deyaar’s stock, which reached a low price level, capital market analyst Amir Mansour told Mubasher.
The stock targets to reach AED 0.600 in the coming sessions if investors continue to pump liquidity, the analyst added.
The stock is seen attractive as Deyaar has good operational plans, in addition to expectations of rewarding dividends to be distributed by the firm at the end of this year.
The Dubai Financial Market (DFM) rose 0.8% to 3,351.04 points during the same time.
Translated by: Julian Nabil
