By: Mahmoud Gamal

 Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Sunday, amid the build-up of new positions.

The general index rose 0.24% or 8.60 points to reach 3,642.51 points.

The transportation sector topped gainers with a 2.8% increase as Aramex grew 5.8%.

The banks sector levelled up 0.4% after Ajman Bank and Dubai Islamic Bank (DIB) increased 5.15% and 0.64%, respectively.

The real estate sector climbed 0.25% due to a rise in Damac Properties, Drake and Scull International (DSI), and Emaar Properties by 1.4%, 1.03%, and 0.13%, respectively.

Some portfolio investors tended to increase their positions in blue chip stocks to make up for the losses they incurred following the disclosure of disappointing annual financials by some leading firms, capital market analyst Ahmed Ismail told Mubasher.

On the flipside, the investment sector led losers with a 1.53% decline as Dubai Investments decreased 1.96%.

Trading volume reached 215.41 million shares on Sunday, compared to 348.64 million shares last Thursday. Turnover amounted to AED 405.19 million, compared to AED 442.21 million. The market is expected to rise on Monday, its main index likely to approach 3,680 points, the analyst noted.

Traders should increase their positions in mid-cap stocks which reached good price levels, Ismail concluded.

Translated by: Julian Nabil