By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index rose 0.34% or 11.64 points to 3,431.81 points on Monday, after the Prophet Mohammad Birthday’s holiday.
Investors began to buy blue chips after reaching attractive prices, Mena Corp financial analyst Issam Kassabieh told Mubasher, adding that the market received a big support with the growth of Emaar Properties’ stock.
The real estate sector increased by 1.04%, leading the DFM, after Emaar Properties surged 2.7%, while the banks sector levelled up 0.24%, boosted by Dubai Islamic Bank (DIB), which added 0.3%.
Some minor stocks gained, including Gulf General Investment, which went up 1.35%.
The DFM’s gainers included DXB Entertainments, adding 1.8% to AED 0.672 after 16 million shares were traded, with a turnover of AED 10.7 million.
The positive trading of DXB Entertainments is the result of good expectations regarding the company’s annual returns, the analyst concluded.
The DFM’s trading volume decreased to 253.4 million shares from 283.49 million shares on 26 November, while the market’s turnover dropped to AED 578.1 million, compared to AED 632.7 million in the previous session.
Translated by: Muhammad Khalid
