Dubai – Mubasher: Gulf Navigation Holding’s (GNH) stock on Tuesday marked its highest level in two months or since 24 August.
By 11:50 am UAE time, the stock’s trading volume reached 42.08 million shares, ranking among the most active five stocks on the Dubai Financial Market (DFM) in terms of volume.
The stock generated a turnover of AED 24.08 million, which makes up 13.2% of the DFM’s AED 195.52 million liquidity.
GNH jumped 5% to AED 1.48, while the transportation sector added 0.7%.
The positive expectations regarding financial results and operational plans, which offer more expansions, is the reason behind the portfolios’ urge to buy GNH’s shares, which resulted in Tuesday’s increase, financial analyst Mohamed Al Azmi told Mubasher.
GNH’s stock will aim for AED 1.7 and AED 2 levels in the coming sessions, if the buying of its shares continued, Al Azmi added.
The DFM gained 0.56% to 3,638.50 points.
