By: Mahmoud Gamal

Dubai-Mubasher: The Dubai Financial Market (DFM) reversed the downward trend it maintained for three successive sessions on Monday, pushed up by the investment, transportation and real estate sectors.

The main index rose 0.12% or 4.03 points to reach 3,494.30 points.

The consumer staples sector topped gainers after adding 1.8%, backed by Dubai Parks and Resorts which advanced 1.8%.

The transportation sector went up 0.6% as Gulf Navigation Holding and Aramex advanced 2.7% and 2.25% respectively. Likewise, the investment sector increased 0.16% due to a rise in Dubai Investments by 0.47%, while the real estate sector levelled up as Emaar Properties climbed 0.4%.

On the flipside, the banks sector retreated 0.13% as Dubai Islamic Bank (DIB) slid 0.18%.

Trading volume reached 150.9 million shares on Monday, compared to 184.08 million shares last Sunday. Turnover stood at AED 295.26 million, compared to AED 232.27 million.

Positive speculations and selective purchases of blue-chip and defensive stocks pushed the market to close higher, despite the fall of oil prices and some global stock markets, according to capital market analyst Fawzi Abdullah.

However, the main index is technically weak as it did not break its important resistance at 3,500 points, the analyst added.

Abdullah expected the market to continue its volatile performance on Tuesday, with its general index likely to target 3,480 points.

Translated by: Julian Nabil