Mubasher TV
Contact Us Advertising   العربية

DFM up in early trades on banks, real estate

DFM up in early trades on banks, real estate
Photo Credit: Arabianeye-Reuters

 

Dubai – Mubasher: The Dubai Financial Market (DFM) began trading on Sunday in the green, backed by Dubai Islamic Bank (DIB), du and the real estate sector.

The DFMGI grew 0.38% or 15.68 points to 4,158.89 points by 10:25am UAE time. Turnover reached AED 57.8 million as 32.53 million shares were traded through 620 transactions.

Analysts told Mubasher that UAE markets are expected to continue to see positive performance during Sunday’s session, the first trading session in August, as major listed companies continue to disclose their financial results.

The telecom sector led gainers, rising 0.74% as du saw a similar rise to AED 5.420. The banking sector added 0.63% as DIB surged 1.3%, ranking second top rising stock.

The real estate sector was up 0.44% as DAMAC topped gainers, rising 2.6%, while Arabtec and Emaar increased 0.84% and 0.38%, respectively.

On the other hand, the investment sector inched down 0.04% as Dubai Investments (DI) lost 0.34%, whereas DFM Company grew 1.04%.

The DFM ended Thursday, the last trading session in July, at a rise, marking its second straight rise backed by the banking sector’s DIB.