Dubai-Mubasher: The Dubai Financial Market (DFM) index has achieved a new record leap on Sunday, boosting its upward movement it started on Thursday, amid continued improvement in crude prices.
The DFM General Index gained 10% or 338.65 points to close at 3765.35 points; thus extending its rally to the second successive day. The index was bolstered by GCC oil ministers’ positive statements as regards oil rebound.
Analysts had told Mubasher that the UAE markets would extend their gains amid recovering oil prices, coupled with the decline of equities to attractive price levels.
The market’s turnover recorded its highest level in December, reaching AED 2 billion, while traded volume amounted to 1.14 billion shares exchanged in 17.6 thousand transactions.
Five stocks skyrocketed by around 15%, namely Dyaar (+14.88%), DSI (+14.87%), DFMC (+14.54%), Union Properties (+14.53%) and DI (+14.51%).
DIB and Emaar also rose 13.85% and 13.72% respectively, while Emirates NBD and Arabtec gained 12% and 11.6% successively.
As for sectors, investment took the lead among advancers (+14.4%), followed by telecommunications (+11.84%), real estate (+10.6%) and banks (+10%).
Emaar Malls tailed the list of gainers (+0.33%), while Takaful Al Emarat fell 4.65% to shut solely in red.
Translated by Sayed Abdel Rahman
Photo Credit: Arabianeye-Reuters