By: Mahmoud Gamal
Dubai – Mubasher: The National Central Cooling’s (Tabreed) stock witnessed the most active trading since September 2013 in Tuesday’s mid-session.
Trading on the stock reached 83.43 million shares by 12:50am UAE time, with a turnover of AED 166.64 million, which represents 11.3% of the market’s liquidity.
The stock’s rise was backed by investments funds’ purchases of small caps like Tabreed and Amanat Holdings, capital market analyst Abdullah Al-Ali told Mubasher.
Tabreed’s stock rose 6.9% to AED 2, pushing the services sector to gain 5.7%.
The stock technically reached an attractive price level, in line with the rise of global stock markets and oil prices, the analyst added.
The company has a good financial position, Al-Ali said, adding that small investors prefer to hold stocks with positive operational performance.
The main index declined 0.65% to 3,284.69 points during the same time.
Translated by: Julian Nabil
