By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Islamic Insurance and Reinsurance Company’s (AMAN) stock rose 5% during Sunday’s trading to AED 1.02, amid speculations over a turn to profitability in fiscal year 2017.

By 11:20am UAE time, trading volume reached 14.56 million shares exchanged at AED 14.72 million.

Stock market analyst Nawaf Al Anzi attributed the rise to the recent positive speculation witnessed by the stock, noting that the stock is targeting AED 1.04 and AED 1.10 on the short term.

AMAN earlier reported a net profit of AED 974,500 for the first quarter of fiscal year 2017.

Translated by: Elwy el-Manzalawy