By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index grew 28.34 points, or 0.97%, to close at 2,947.08 points on Monday on the back of selective purchases.
During the last months, the DFM has been declining unjustifiably, longing for any positive news, NamaaZone CEO Iyad Aref told Mubasher.
Earlier on Monday, the UAE Cabinet announced a new long-term visa to some international investors and talented professionals, allowing 100% foreign ownership in companies.
This decision will boost banks, real estate developers, and contractors, as well as attract many investors to the UAE market, senior financial analyst at Mena Corp Issam Kassabieh commented.
The consumer staples sector jumped 3.5% after DXB Entertainments surged 3.8% to AED 0.378, while the real estate sector added 1.8%, as DFM Company soared 3.85% to AED 1.08.
The services sector rose 1.63%, as Tabreed gained 2.89% to AED 1.78.
The DFM’s trading volume reached 347.53 million, while the market’s liquidity hit AED 546.52 million.
Translated by: Muhammad Khalid
