DIB
DIB
-0.87%
5.68
-0.05
DIB
Emirates NBD
EMIRATESNBD
-1.19%
16.55
-0.20
EMIRATESNBD
Arabtec Holding
ARTC
-3.29%
0.53
-0.02
ARTC
Dubai Investments
DIC
-0.43%
2.33
-0.01
DIC
DU
DU
1.99%
5.64
0.11
DU
Emaar
EMAAR
-1.07%
8.29
-0.09
EMAAR
DFM
DFM
-2.13%
1.38
-0.03
DFM
The Dubai Financial Market (DFM) ended Tuesday on a high note as traders and investors focused on the real estate sector, led by Arabtec and Emaar Properties, added to the positive performance by the banking and investment sectors and following a recovery in Saudi and global markets.
The market’s benchmark index ended the session, gaining 1.43% or 64.7 points and closing at 591.9 points, thus nearing the level of 4600 points once more.
Experts and analysts had expected the UAE markets to hold during Tuesday’s session after US markets were stable on Monday, added to an improvement on the Nikkei index.
UAE economic market analyst Nasser Aref told Mubasher that it is likely that smart liquidity will enter the UAE markets following Tuesday’s session as prices have become attractive.
The real estate sector rose by two percent, as Arabtec and Emaar gained 3.6% and 2.34% to AED 4.050 and AED 10.950, respectively.
The investment sector also added 1.44% as Dubai Investments and DFM gained 1.67% and 1.46%, respectively. Furthermore, the banking sector contributed to today’s gains, adding 0.93% supported by Emirates NBD and Dubai Islamic Bank (DIB), which rose by 2.3% and 0.53%, respectively.
On the other hand, the telecoms sector ended the session in the red, shedding 0.38% as d retreated to AED 5.300.
DFM gains saw continued trading decline reaching 209.25 million shares through 5000 transactions worth AED 683.5 million.
The DFM had ended Monday at 1.64% decline, falling 75.64 points to 4527.2 points, registering its second successive decline.
The market’s benchmark index ended the session, gaining 1.43% or 64.7 points and closing at 591.9 points, thus nearing the level of 4600 points once more.
Experts and analysts had expected the UAE markets to hold during Tuesday’s session after US markets were stable on Monday, added to an improvement on the Nikkei index.
UAE economic market analyst Nasser Aref told Mubasher that it is likely that smart liquidity will enter the UAE markets following Tuesday’s session as prices have become attractive.
The real estate sector rose by two percent, as Arabtec and Emaar gained 3.6% and 2.34% to AED 4.050 and AED 10.950, respectively.
The investment sector also added 1.44% as Dubai Investments and DFM gained 1.67% and 1.46%, respectively. Furthermore, the banking sector contributed to today’s gains, adding 0.93% supported by Emirates NBD and Dubai Islamic Bank (DIB), which rose by 2.3% and 0.53%, respectively.
On the other hand, the telecoms sector ended the session in the red, shedding 0.38% as d retreated to AED 5.300.
DFM gains saw continued trading decline reaching 209.25 million shares through 5000 transactions worth AED 683.5 million.
The DFM had ended Monday at 1.64% decline, falling 75.64 points to 4527.2 points, registering its second successive decline.
Source:
Mubasher Exclusive