By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Thursday, in line with purchases of blue chips.

The DFMGI rose 0.43% or 14.19 points to reach 3,318.39 points.

The consumer staples sector topped gainers with a 1.24% rise as DXB Entertainments went up 1.3%.

The real estate sector advanced 0.8% after Emaar Properties grew 1.9%.

Rise of oil prices above acceptable levels pushed investors to build new positions in blue chips which reached attractive and low price level, pushing the market to close higher, capital market analyst Mohammad Al-Harbi said.

The banks sector was the worst performer after falling 0.08% as Mashreq Bank and Dubai Islamic Bank (DIB) slid 4.8% and 0.6% respectively.

Third-quarter financials led some portofolio investors not to trade on Thursday till the vision becomes clearer, the analyst noted.

The market saw trading of 210.49 million shares through 3,180 transactions, with a turnover of AED 278,170.

Translated by: Julian Nabil