By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Sunday, backed by purchases of GFH Financial Group and Union Properties (UP).

The general index rose 0.4% or 14.2 points to reach 3,615.39 points.

The real estate sector went up 0.5% as UP and Arabtec Holding increased 4.06% and 1.8%, respectively.

The banks sector grew 0.44% after Dubai Islamic Bank (DIB) levelled up 0.7%.

GFH Financial Group saw strong purchases by institutional investors and speculators, according to CEO of Think Financial Studies Fadi El Ghattis.

The market saw trading of 233.6 million shares on Sunday, compared to 233.74 million shares last Thursday. Turnover amounted to AED 282.09 million, compared to AED 290.56 million.

GFH Financial saw a turnover of AED 93.81 million from the exchange of 49.48 million shares.

The market is expected to be pressured by some speculators in the coming sessions, El Ghattis said.

The DFMGI is trying to stabilise above 3,560 points, according to Hesham Hassan, head of technical analysis at Acumen for Securities.

The index is expected to rise to 3,680 points if the market sees strong purchases, Hassan noted.

Translated by: Julian Nabil