By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) closed the week ended Thursday, 15 June, in the green, backed by a number of leading stocks, particularly Emaar Properties.
The DFMGI grew 1.75% or 59.34 points to end the week at 3,459.44 points, marking its second straight week of gains.
The real estate sector rose 3.15% this week after Emaar Properties surged 5.5%, while Drake & Scull International (DSI) added 0.96%.
The investment sector went up 2.15%, backed by Dubai Investments’ 3.7% rise.
The transport sector went up 1.07% after Air Arabia gained 1.96%.
Commenting on the DFM’s weekly performance, Jamal Ajaj, director of Al Sharhan Shares Centre in Abu Dhabi, told Mubasher that the market’s indices are enjoying positive movements after several stocks reached attractive price levels, prompting institutional investors and portfolios to seize these opportunities.
Ajaj said he expects this state of optimism to continue, particularly with the emergence of positive company news, which has become a major factor and catalyst in the UAE’s two markets lately.
Weekly turnover rose to AED 2.62 billion ($710 million) from AED 2.42 billion ($660 million) last week, while traded volume declined to 2.1 billion shares exchanged from 2.21 billion.
Translated by: Nada Adel Sobhi
