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DFM ends in green; liquidity nears AED 1bn

DFM ends in green; liquidity nears AED 1bn
Photo Credit: Arabianeye-Reuters

 

Dubai – Mubasher: The Dubai Financial Market (DFM) ended Thursday and the week at a rise, on the back of a semi-collective rise of its sectors led by real estate and banks, after a seesaw session of red and green.

The DFMGI soared 4.03% or 141.2 points to close at 3,648.45 points. Turnover improved significantly to AED 962.7 million ($262 million), up from AED 640.77 million ($176 million) on Wednesday, while traded volume increased to 610.76 million shares compared to 424 million the day before.

Earlier today, analysts told Mubasher that the recent declines in UAE stock markets has brought down prices to significantly low levels, thus making way for long-term investments.

The investment sector leaped 7.2% after Dubai Investments (DI) jumped 7.76% and DFM Company grew 4.35%, while the real estate sector gained 4.34% after Arabtec and Emaar Properties surged 5.24% and 4.82%, respectively.

The banking sector added 3% after Dubai Islamic Bank (DIB) and Emirates NBD gained 3.6% and 3.2%, respectively. The telecom sector increased 1.4% after du saw a similar rise to AED 5.070. The industrial sector remained unchanged.

The DFM ended Wednesday in the red, weighed down by the real estate sector’s Arabtec and Emaar Properties, as well as the investment and telecom sectors.