By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Monday, backed by the rise of blue chips topped by Dubai Islamic Bank (DIB) and Emaar Properties.
The general index went up 0.67% or 24.30 points to reach 3,633.18 points.
Dubai’s main index rose to a higher-than-expected level from 3,604 to 3,633 points, technical analyst Gamal Abdel Hamid noted.
The banks sector went up 1.5% as Dubai Islamic Bank (DIB) and Emirates NBD gained 1.81% and 1.5%, respectively.
The real estate sector went up 0.67% due to a rise in Emaar Properties and Union Properties (UP) by 1.1% and 0.3%, respectively.
The market is expected to rise, backed by the positive performance of Emaar which rose from AED 8.14 to AED 8.28, and DIB which broke above AED 6, Abdel Hamid noted.
Some small caps saw active trades, topped by AMAN and Dubai Parks and Resorts which reached AED 1.06 and AED 0.77, respectively, Abdel Hamid added.
Trading volume reached 198.38 million shares on Monday, compared to 131.82 millin shares on Sunday. Turnover amounted to AED 320.19 million, compared to AED 192.53 million.
Translated by: Julian Nabil
