By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a bullish performance on Sunday, spurred by five sectors led by the real estate.
The DFMGI went up 0.43% or 14.16 points to reach 3,338.23 points.
Trading activity on small and medium caps led the markets to rise, capital market analyst Gamal Abdel Hamid told Mubasher.
The continuous positive rebound is still not enough to make the market maintain its uptrend amid investors’ anxiety over the performance of oil prices and global stock exchanges, the analyst noted.
The real estate sector topped gainers with a 1.8% rise as Union Properties, Deyaar Development and Emaar Properties grew 11.36%, 6.3% and 0.15% respectively.
The services sector went up 1.4% after the National Central Cooling (Tabreed) grew 3.8%.
The investment sector gained 0.53% as SHUAA Capital and Dubai Investments advanced 3.8% and 0.4% respectively.
On the other hand, the industrial sector fell 10% as National Cement Co. (NCC) slid 10%.
Trading volume reached 923 million shares on Sunday, compared to 925.83 million shares last Thursday. Turnover stood at AED 1.052 billion, compared to AED 1.19 billion.
The main index cannot break its importance resistance levels at 3,339-3,420 points amid lack of internal catalysts, Abdel Hamid said.
Translated by: Julian Nabil
