By: Mahmoud Gamal
Dubai-Mubasher: Dubai Financial Market (DFM) saw a positive performance in Tuesday’s early trades, amid the rise of real estate stocks.
The DFMGI went up 0.8% or 26.7 points to 3,317.07 points by 11:00am UAE time.
The real estate sector advanced 1.8%, backed by the uptrend of Amlak Finance, Emaar Properties, Arabtec Holding and Union Properties.
The market’s performance was spurred by positive speculations, especially on real estate stocks which reached attractive price levels, capital market analyst Ziad Al Samer told Mubasher.
The services sector went up 0.6% due to a rise in Tabreed and Amanat Holdings.
The banks sector recovered 0.14% as Dubai Islamic Bank (DIB) gained 0.2%.
On the flipside, the transportation and insurance sectors fell.
The market saw a trading volume of 67.7 million shares through 1,224 transactions, with a turnover of AED 96.9 million.
The UAE markets still suffer from weak liquidity and absence of institutional investment, the analyst added.
Investors should not increase their positions till the main indexes resume their uptrend, Al Samer advised.
