Dubai-Mubasher: The real estate stocks of Arabtec Holding, Emaar Properties and Damac Properties accounted for 50% of the Dubai Financial Market’s (DFM) turnover.
Arabtec was the value leader after generating AED 24.2 million, representing 24.5% of the market’s total liquidity. The stock rose 1.7% by 11:30am UAE time after 99 million shares were traded through 353 transactions.
Emaar took the second position with AED 16.67 million, making up 16.8% of the market’s turnover. The stock gained 0.9%.
Damac’s stock ranked last with AED 1.8 million, rising 0.4% to AED 2.21.
The speculative investment portfolios make use of the attractive price levels and enter the market gradually, said capital market analyst Amir Mansour.
Mansour added that some stocks see accumulations by investors to make use of the expected annual results and good cash dividends.
The real estate sector generated AED 46.62 million, representing two-thirds of the market’s liquidity.
