Dubai – Mubasher: The Dubai Financial Market (DFM) ended Thursday and the week in the green, continuing its gains for the second successive session. The market amended its position during the second half of the session, overcoming early profit-taking.

The market’s general index (DFMGI) rose by 1.42%, adding 54.4 points and closing at 3886.94 points, nearing the level of 3900 points once more.

Experts had told Mubasher in statements that they expect UAE markets to continue their rise, while foreign and Arab investors seek to cut down on their positions with the approach of the New Year holidays.

The DFMGI gained on higher liquidity compared to Wednesday’s session, as turnover reached AED 875 million against AED 772 million yesterday.

The real estate sector rose by 2.2%, ranking second top gaining sector, supported by Arabtec and Emaar gains, which added 5.3% and 0.92%, respectively, added to positive performance by other real estate stocks.

The banking sector added 1.36% as Dubai Islamic Bank (DIB) and Emirates NBD gained 2.2% and 1.16%, respectively.

The investment sector added 0.8% as Gulf General Investment Company (GGICO) topped rising stocks, surging by 15% to AED 0.676. Moreover, DFM Company rose by 0.48%.

On the other hand, the telecom sector ended in the red, falling 0.4% as du fell to AED 9.990. The transport sector also lost 0.36%.

Al Salam Group Holding and Amanat Holdings topped losers, falling 2.57% and 2.03% to AED 0.720 and AED 0.822, respectively.

Arabtec topped the most active stocks in terms of turnover, which reached AED 338.4 million, making 39% of the DFM’s total turnover today.

Translated by: Nada Adel Sobhi

Photo Credit: Arabianeye-Reuters