By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) ended Wednesday in the green zone after gaining 0.38% or 13.63 points, reaching 3,624.85 points, after Emaar Properties’ stock rose 1.2% to AED 8.42 at a turnover of AED 31 million.
Despite the DFM witnessing a temporary slowdown, some of the stocks which dropped are starting to rise again, Issam Kassabieh, analyst at MENACORP, said.
Emaar Properties’ stock outlook is good, in line with its profitable financial results, and its planned offer that will be launched in coming November, Kassabieh added, noting that the UAE markets are currently in stagnation as new catalysts do not exist.
The DFM’s trading volume reached 146.6 million shares on Wednesday, against 120.23 million shares on Tuesday, while liquidity increased to AED 222.1 million, from AED 182.63 million.
Kassabieh indicated that some investors are still cautious and in anticipation, after some firms’ financial results revealed losses, especially Arabtec Holding.
Arabtec Holding’s stock, down 0.6%, closing at AED 3.28, whereas Union Properties’ (UP) stock increased 1.37% to AED 0.889.
Domestic stocks are expected to see active trading in accordance with the Cityscape Global exhibition from 11 to 13 September 2017, the analyst noted.
Translated by: Mohamed Hesham Azab
