The Dubai Financial Market (DFM) recorded its highest growth in three weeks on Monday, supported by the highest liquidity seen in 10 sessions amid strong buying of real estate sector stocks, particularly those of Arabtec and Emaar Properties.

The DFMGI surged by 2.83%, adding 125.83 points and closing at 4579 points. Turnover surged to AED 1.14 billion as 390.80 million shares changed hands through 7664 transactions. Moreover, a total of 30 companies traded, of which 22 were in the green, seven retreated and one remained unchanged.

The real estate sector topped gainers, surging by 4.46%, followed by the investment sector by 3.58%. Meanwhile, the insurance sector saw the only decline today, falling 0.27%, while the industrial sector saw no change.

Arabtec topped gainers, soaring by 8.79% to AED 4.210, as turnover on the stock reached AED 464.4 million as 114.3 million shares were traded.

The investment and financial services sector’s SHUAA capital ranked second gainer, adding 6.20%.

Deyaar Development, Union Properties and Drake & Scull International (DSI) also supported the real estate sector’s gains today, adding 6.20%, 4.76%, 4.12%, and 3.70%, respectively. Emaar Properties, the DFMGI’s heaviest-weighted stock rose by 3.5% at a turnover of AED 270 million, while Emaar Malls gained 1.9%.

Commenting on the DFM’s performance, Nasser Aref told Mubasher the market succeeded in passing important levels supported by strong buying by top investors and institutions amid growing liquidity exceeding AED one billion.

The improvement in foreign investors’ confidence has prompted them to entering the market and forming strong new buying positions on leading stocks, particularly those of Arabtec and Emaar.

Aref noted that he expects the coming sessions to see limited gains following profit-taking, which he said will be normal particularly after stock markets exited the wave of declines witnessed lately.