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DFM leaps to 6-week high on 31 stocks

DFM leaps to 6-week high on 31 stocks
Photo Credit: Arabianeye-Reuters

 

Dubai – Mubasher: The Dubai Financial Market (DFM) ended Sunday, the first trading session of the week and February, in the green, registering its highest gains since December 21, 2014, on a collective-sector rise.

The DFMGI soared by 165.82 points or 4.51% to 3840.22 points.

The investment sector topped gainers, surging by 11.67% backed by Dubai Investments (DI), International Financial Advisers (IFA) and DFMC, which shot up by 13.76%, 10.93% and 9.47%, respectively.

A total of 36 stocks traded today, of which 31 were in the green, 3 were in the red and 2 remained unchanged.

Earlier today, DI announced its financials for FY14, which surged by 63% to AED 1.341 billion against AED 822.32 million in FY13.

The real estate sector rose by 5.33%, supported by Emaar Properties, Drake and Scull International (DSI) and Arabtec, which gained 6.75%, 6.42% and 5.17%, respectively.

The banking sector added 2.59%, backed by Gulf Finance House (GFH), Dubai Islamic Bank (DIB) and Emirates NBD, which rose by 4.51%, 4.14% and 2.11%, respectively.

Both du and telecoms sector added 0.60%

Around 439 million shares were traded on Sunday at turnover of AED 837.477 million through the execution of 7851 transactions against 273.66 million at a turnover of AED 476.57 million.

The DFM had ended Thursday, January 29, at a 1.66% plunge, losing 62 points to 3674.4 points.