DFM holds steady on Emaar’s stock Wednesday

DFM holds steady on Emaar’s stock Wednesday
The UAE stock markets’ liquidity is still weak

By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Wednesday, backed by active trades on some blue chips amid investors’ anticipation.

The main index rose 0.5% to 3,654.6 points, backed by the rise of Emaar by 0.8% to reach AED 8.8, its highest level since December 2014.

The services sector went up 1.07% after Tabreed gained 1.4%. The transportation sector gained 0.07% as Aramex grew 0.2%.

Geopolitical escalation in the region led by Yemen's conflict and Qatar’s rift with GCC neighbors pushed investors to risk, according to Fady Al Kasswany, trading manager at Al Sharhan Stock Centre Fadi Al Kiswani.

The market saw trading of 81.11 million shares through 1,671 transactions, with a turnover of AED 131.32 million.

The UAE stock markets’ liquidity is still weak amid anticipation for new catalysts, Al Kiswani added.

Translated by: Julian Nabil

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Source: Mubasher Exclusive

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