By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market (DFM) reversed the negative performance it had maintained for three successive sessions on Wednesday.

The general index gained 0.54% or 18.31 points to reach 3,395.06 points.

The market was backed by increased purchases which pushed blue chips to close higher, capital market analyst Mahmoud Diab said.

The index rose near 3,400 points, with expectations to reach 3,450 points, Diab added.

The real estate sector topped gainers with a 1.3% rise as Damac Properties, Emaar Properties, and Drake and Scull International (DSI) added 2.5%, 1.35%, 1.1%, and 0.69, respectively.

The transportation sector also rose 0.21% as Air Arabia went up 1%.

Trading volume reached 170.74 million shares on Wednesday, compared to 331.42 million shares on Tuesday. Turnover amounted to AED 214.45 million, compared to AED 378.93 million.

If the market manages to recover and rise above 3,420 points, it will near 3,470 points, Diab added.

Translated by: Julian Nabil