By: Mahmoud Gamal

Dubai-Mubasher: Dubai Financial Market (DFM) managed to see a positive performance this week after the rise of leading sectors topped by the real estate and banks sectors.

The general index gained 3.75% or 121.13 points to reach 3,351 points.

The market’s gains were backed by the rise of oil prices above $50 a barrel, as portfolio resumed investments in blue-chip stocks which reached attractive price levels, according to capital market analyst Abdullah Al Ali.

The consumer staples sector topped gainers after adding 13%, backed by the rise of Dubai Parks and Resorts.

Trading volume reached 1.73 billion shares this week, compared to 1.04 billion shares last week.

The market is expected to approach 3,400 points, Al Ali said, adding that investors should not increase their positions in some stocks until the general index breaks above 3,380 points.

Translated by: Julian Nabil