By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market (DFM) ended Monday in the green, after investors increased their positions on Emaar and Arabtec’s stocks.

The DFMGI gained 1.08% or 37.97 points and closed at 3,555.35 points.

Turnover reached AED 300.44 million, up from AED 238.76 million on Sunday, while traded volume fell to 207.26 million shares, compared to 208.09 million the day before.

The telecom sector led risers, adding 2.25% as du saw a similar increase, while the real estate sector grew 1.75% on the back of Emaar Properties and Arabtec, which gained 2.2% and 1.34%, respectively.

The investment sector levelled up 1.05%, backed by SHUAA and DFM Company, which were up 2.17% and 1.5%, respectively.

On the other hand, the banking sector slipped 0.09% after Emirates NBD lost 1.02%, while the transport sector was down 0.02% on the back of Gulf Navigation.

Despite the selective buying seen on several of the DFM’s blue chips by some portfolios, there is a state of caution controlling other traders, commented market analyst Gamal Samy.

Investors were anticipating the announcement of important companies’ financials, he told Mubasher, adding that there was significant speculation on leading companies’ stock at present.

Liquidity remains low as traders are awaiting financials and looking to buy stocks at better prices, Samy noted.

It is expected that the DFM will extend its rise on Tuesday, the analyst said, indicating that if the DFM will perform positively if continues to trade above 3,480 points.

Translated by: Nada Adel Sobhi