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DFM closes Sunday up on higher purchases

DFM closes Sunday up on higher purchases
Trading volume reached 339.51 million shares through 5,206 transaction, generating AED 402.24 million

Dubai – Mubasher: The benchmark index of the Dubai Financial Market (DFM) ended Sunday in the green zone after increasing 0.64% or 23 points to reach 3,596.41 points, on the back of domestic and foreign investors' purchases.

The portfolios attracted higher positions, especially in leading stocks that led DFM's index to level up again, market analyst Mohamed Saeed told Mubasher.

As the financial statements of the leading companies are expected to post higher profits, especially the banks, the investors were encouraged to risk by trading, Saeed added.

If the DFM reaches the level of 3,550 points, it will be stable and expectedly attract more liquidity, the market analyst concluded.

The investment and financial services sector rose 3.4% as Dubai Investments and DFM Company went up 4.33% and 1.7%, respectively.

The banks sector levelled up 0.73% after Dubai Islamic Bank (DIB) gained 0.52% and Emirates NBD grew 0.50%.

The real estate sector increased 0.29% as DAMAC Properties and Drake and Scull International (DSI) rose 1.8% and 1.25%, respectively.

Trading volume reached 339.51 million shares through 5,206 transactions, generating AED 402.24 million.