Dubai-Mubasher: Dubai Financial Market (DFM) reversed the downward trend it saw in early trades, resuming its upward trend on the rise of real estate and banks stocks.
The DFMGI recovered 0.49% or 15.42 points to reach 3,134.82 points at close.
The UAE markets are still subject to the vagaries of oil and global economy amid the absence of internal catalysts and the decline of institutional investments, paving the way for speculations to be in control, said Ehab Rashad, Managing Director, Direct Broker for Securities –Mubasher.
Turnover rose to AED 419.83 million ($114.3 million) on Tuesday, compared to AED 228.7 million ($62.27 million) on Monday. Similarly, trading volume grew to 438 million shares from 249 million shares.
The transportation sector jumped 20.8%, backed by Gulf Navigation Holding and Air Arabia which levelled up 3.82% and 3.08%, respectively.
The investment sector inched up 0.44% after DFM Company added 2.54%. Meanwhile, Dubai Investments remained unchanged.
The banks sector gained 0.36% as Eshraq Properties went up 6.25%, in addition to the positive performance of Amlak Finance and Ajman Bank.
The real estate sector also recovered 0.31% as Arabtec Holding and Emaar Properties grew 1.63% and 0.7% in a row.
The telecom sector advanced 0.2% due to an increase in du by 0.2% to AED 5.09.
