By: Mahmoud Gamal
Dubai-Mubasher: Dubai Financial Market (DFM) saw a positive performance on Sunday, after receiving a boost from most stocks.
The general index gained 1.4% or 47.5 points to 3,433.69 points, its highest level in five months.
Repurchases of blue chips and a rise in oil prices to above $40 a barrel, were the key contributors to the market’s strong performance, capital market analyst Alaa Ahmed said.
Trading volume reached 924.72 million shares on Sunday, compared to 788.3 million shares last Thursday.
Turnover grew to AED 1.09 billion from AED 910.02 million.
The consumer staples sector rose 3.03%, backed by Dubai Parks and Resorts which advanced 3.15%.
The investment sector went up 2.6% as Dubai Investments trended 3.11% higher.
The real estate sector levelled up 2.22% due to a 2.16% increase in Emaar Properties.
Union Properties advanced 2% as Emaar Malls Group rose 1.4%.
The DFMGI will target 3,493 points on Monday if it moves above 3,420 points along with a rise in liquidity to AED 1.5 billion, Ahmad Al-Amoudi, technical analyst at Trades Chamber, told Mubasher.
