By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index on Wednesday rose 0.83%, or 27.51 points, to 3,353.98 points on the back of the real estate and banks stocks.
The UAE’s markets grew on Wednesday due to cherry-picking of some stocks, reversing Tuesday’s losses, said Mubasher’s senior sales trader Mohab Maher.
The markets saw cautious trading today, which weigh on their liquidity, Maher added.
The DFM’s trading volume shrank to 195.77 million shares from 256.67 million on Tuesday, while the market’s liquidity dropped to AED 317 million, compared to AED 398.52 million in the previous session.
The services sector surged 2.4% after Tabreed gained 2.84% to AED 1.81.
The real estate sector added 1.05% after DAMAC and Emaar Properties grew 1.85% to AED 3.3 and 1.09% to AED 6.47, respectively.
The banks sector upped 0.85%, as Dubai Islamic Bank (DIB) levelled up 1.14% to AED 6.2.
The investment sector increased by 0.63% after Dubai Investments gained 1.3% to AED 2.4.
On the other hand, the industrials sector and National Cement tumbled 3.5% each.
The UAE’s markets will maintain this volatility unless being boosted by some good news, the analyst concluded.
Translated by: Muhammad Khalid
