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Arabtec, DIB push DFM up Wednesday

Arabtec, DIB push DFM up Wednesday
Traders at Dubai's bourse

By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Wednesday for the third successive session, backed by blue chips topped by Arabtec Holding and Dubai Islamic Bank (DIB).

The general index rose 0.26% or 8.93 points to reach 3,450.78 points.

The market was mainly supported by the increase of positions especially in some blue chips, which reached attractive price levels in the second half of Ramadan, capital market analyst Mahmoud Diab told Mubasher.

The consumer staples sector topped gainers with a 4.8% rise as DXB Entertainments added 5.4%.

The transportation sector added 0.92% after Air Arabia advanced 0.98%.

The banks and real estate sectors rose 0.23% as Arabtec Holding went up 1.96%. The real estate sector grew 0.11% after Dubai Islamic Bank (DIB) went up 0.69%.

On the other hand, the investment sector declined 0.9% after SHUAA Capital sank 3.45%.

The UAE markets are expected to continue their volatility on Thursday, Diab added.

Translated by: Julian Nabil