Dubai – Mubasher: The Dubai Financial Market (DFM) commenced Wednesday’s session at a rise, backed by gains in the real estate sector, particularly Arabtec and Emaar Properties.

The DFMGI grew 30 points or 0.78% to 3,858.75 points by 10:30am UAE time. Turnover reached AED 280.3 million as 175 million shares changed hands through 2,200 transactions.

UAE markets are still trying to make up for previous losses incurred due to investors overreacting to certain events, market analyst Waddah Taha told Mubasher, adding that markets are far from a price inflation, despite the recent gains.

The real estate sector rose 1.8% as Arabtec and Emaar surged 2.23% and 1.94%, respectively. Other stocks in the sector also performed positively.

Emaar Properties’ ordinary general meeting (OGM) is set to convene today after trading hours to discuss the board’s recommendation for a 15% cash dividend, amounting to 15 fils per share and totalling AED 1.07 billion.

Deyaar Development announced its financials for Q1-15 on Tuesday, reporting a consolidated net profit of AED 55.2 million compared to AED 52.1 million in Q1-14, registering 6% growth.

The investment sector topped the gainers, rising 2.12% as Dubai Investments and DFM Company increased 1.73% and 3.3%, respectively.

Meanwhile, performing negatively, the transport sector led the losers, falling 2.3% as Aramex and Air Arabia declined.

The banking and telecom sectors saw no change as none of their stock witnessed trading.