Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index rose 0.33% to close at 3,044.77 points on Tuesday, pushed up by blue chips, especially Emaar Properties.
The UAE markets rose on the back of the new incentives, as the third quarter approaches in which the real estate and banks sectors are expected to grow, senior financial analyst at Mena Corp Issam Kassabieh told Mubasher.
That positive trend could continue to the end of July, where the US may change interest rates, which will affect stock markets, Kassabieh added.
The real estate sector grew 1.26% after Emaar Malls added 2.38% to AED 2.15, while Emaar Properties rose 1.84% to AED 5.55 and Damac Properties increased by 1.66%.
The investment sector levelled up 0.92%, as DFM Company added 1.85% to AED 1.1, while the telecommunication sector and its only stock, du, rose 0.62% each.
The DFM’s trading volume reached 150.95 million shares, while the market’s liquidity hit AED 262.83 million.
Emaar Properties topped the market in terms of both volume and value, with 10.59 million traded shares and a turnover of AED 58.8 million.
Translated by: Muhammad Khalid
