By: Mahmoud Gamal
Dubai-Mubasher: Dubai Financial Market (DFM) saw a bullish performance in the last week of March amid the uptrend of global markets, according to an analyst.
The general index gained 1.1% or 36.8 points to reach 3,355.53 points.
The market’s performance was backed by the overall rise of global markets and fluctuation of oil prices at acceptable levels amid the news that the US Federal Reserve will raise interest rates at a slow pace, according to the capital market analyst Bayan Nabil.
Turnover stood at AED 1.7 billion on Thursday, compared to AED 3.1 billion on Wednesday.
Trading volume reached 1.46 billion shares, compared to 2.68 billion shares.
The real estate sector rose 1.25% after Emaar Malls Group and Emaar Properties advanced 3.6% and 0.5%, respectively.
The banks sector levelled up 1.16% as Dubai Islamic Bank (DIB) grew 3.5%.
On the flipside, the consumer staples sector retreated 4.8% due to a decline in Dubai Parks and Resorts by 5.2%.
The market's closure above 3,350 points is likely to push the general index up to 3,380 and 3,420 points in a row, Nabil said.
