Dubai – Mubasher: The Dubai Financial Market (DFM) rose at the closing of Wednesday session, backed by the backing sector’s Emirates NBD, which ignored the real estate sector’s losses. This follows a three successive-session decline. The DFMGI added 0.43% or 16 points and closed at 3736.3 points.

Analysts told Mubasher that they expect UAE markets to begin of a calm wave of gains as global markets begin to see some stability, added to the fact that both markets succeeded in making up for most of their losses during Tuesday’s session.

The DFM’s gains were accompanied by declining activity compared to the previous sessions as trade volume reached 289.28 million shares at a turnover of AED 561.6 million through 5.9 THD transactions.

The consumer staples sector topped gainers, adding 2.66%, followed by the telecoms, investment and banking sectors, which rose by 2.2%, 1.38%, and 1.04%, respectively, whereas the real estate sector lost 0.67%.

On the sectors’ level, Dar Takaful led gainers, surging by 7.23% to AED 0.623, whereas SHUAA Capital dropped 4.6% to AED 0.682.

Emirates NBD, Dubai Investments, DFMC and Dubai Islamic Bank (DIB) gained 3%, 1.8%, 1% and 0.6%, respectively.

Meanwhile, Emaar Properties and Arabtec ended in the red, falling 1.3% and 0.33%, respectively.