The Dubai Financial Market (DFM) witnessed semi-collective gains in its listed stocks, with the exception of Emaar Properties. The gains were seen amidst increased liquidity.

The market’s general index (DFMGI) gained 0.92% after the first half hour of Thursday’s session, adding 38 points and reaching 4224.5 points, thus making up for its losses in the last two sessions.

Experts told Mubasher that Thursday’s session will set the tone for the UAE market’s performance in December. This session is the first after the UAE’s National Day holidays.

UAE market analyst Wadah Taha said that excluding profit from Emaar’s stock has resulted in strong pressure on both the stock and the market.

Turnover during the morning’s trades reached AED 225.8 million as 65.2 million shares were traded through 1.53 THD transactions.

The banking sector gained 2.1% as Dubai Islamic Bank (DIB) rose by four percent to AED 7.180. The investment sector added 1.73% as Dubai Investments and DFM rose by 1.85% and 1.25%, respectively.

Meanwhile, the real estate sector inched up by 0.02% as Arabtec added 1.87%, while Emaar Properties fell 2.83%.

The DFMGI had ended Monday in the red, falling 2.23%, its lowest closing level since July.

Photo Credit: Arabianeye-Reuters