By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) closed Wednesday’s trading session up, raising its morning gains from increasing new position in some stocks, topped by Emaar and GFH Financial Group.
The DFMGI rose 0.49% or 17.9 points to the level of 3,642.08 points.
The upcoming Cityscape Global 2017 is considered an incentive to the UAE stock markets, as transactions recently dropped, financial analyst at Menacorp Financial Services Essam Kassabia said.
Investors turned to increase positions in some real estate stocks, which saw a positive performance in the DFM and the Abu Dhabi Securities Exchange (ADX) on Wednesday, Kassabia noted.
The real estate sector topped the rising sectors with 1.06%, as Emaar Properties gained 2.2%, while the investment sector edged up 0.53%, as Dubai Investments (DIC) added 0.8%.
The transportation sector inched up 0.4%, as Aramex grew 0.8%, while GFH Financial rose 2.2% to contradict with the banks sector, which declined 0.33%.
Kassabia attributed the positive performance of DXB Entertainments to the expectation of Meraas Holding to announce a huge project at the next exhibition, which will affect the profits.
DXB Entertainments’ stock closed Wednesday’s trading session up 0.88%, as 22.23 million shares were traded with a turnover of EGP 17.92 million.
The DFM's turnover reached AED 197.52 million on Wednesday from AED 229.40 million on Tuesday, while trading volume amounted to 138.71 shares compared to 182.95 shares.
Translated by: Mai Ezz El-Din
