Dubai – Mubasher: The Dubai Financial Market (DFM) saw a significant rise in trades early on Thursday, backed by positive performance in the real estate sector, led by Arabtec in addition to the banking and investment sectors.

The DFMGI surged 36 points or 1.02% to 3,567.66 points by 10:20am UAE time, registering its fifth straight gain. Turnover reached AED 89.2 million as 65.7 million shares were traded through 842 transactions.

The DFM ended Wednesday in the green, rebounding from its decline earlier in the day, buoyed by real estate and banking stocks to end at its highest level in two weeks.

UAE market performance is shaped by retail investor expectations and not financial indices or current companies’ performance, analysts told Mubasher.

The transport sector led the risers, adding 2.3% as Aramex increased 3.3%.

The investment sector ranked the second top gainer, adding 2% as Dubai Investments and DFM Company grew 1.66% and 2.65%, respectively. Gulf General Investments Co. (GGICO) surged 4.32%, topping rising stocks.

The real estate sector added 1.33%, backed by Arabtec and Emaar, which increased 2.62% and 1.2%, respectively.

The banking sector inched up 0.1% as Dubai Islamic Bank (DIB) ranked the least gainer, adding 0.48%.

On the other hand, the insurance sector shed 0.16%, whereas the telecom and industrial sectors remained unchanged.