The Dubai Financial Market (DFM) ended the last session of the week in the green, supported the real estate sector, particularly by Arabtec and Emaar stocks, and following three successive sessions of declines.
The market’s general index (DFMGI) gained 1.15% or 51 points and closed at 4494.37 points, nearing the level of 4500 points one more.
Analysts had told Mubasher in statements that the strong declines seen on the DFM were unjustified. They said they expect the market to hold well during Thursday’s session.
The real estate sector rose by 1.9% supported by Arabtec, which ranked third top gainer and which surged by 6.15% to AED 3.970, following news that Ismaik is considering selling his stake. Emaar Properties also rose by 1.86%.
Thursday’s session saw a turnover of AED 967.81 million as 308 million shares were traded through 6194 transactions. Moreover, a total of 31 companies traded, of which 18 were in the green, nine were in the red and four remained unchanged.
The DFM had ended Wednesday in the red, dropping 2.5%. The market had lost a total of 188 points during the past three sessions.