By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market (DFM) managed to hold steadily on Thursday, backed by active trades on banks stocks amid lower liquidity.

The DFMGI rose 0.07% or 2.62 points to close at 3,657.23 points.

The banks sector went up 1.33% as Mashreq Bank and Dubai Islamic Bank (DIB) grew 8.1% and 1.14%, respectively.

On the other hand, the consumer staples sector led losers with a 1.1% decline as Marka sank 2.01%.

The investment sector retreated 0.7% after DFM Company tumbled 0.87%. The real estate sector slid 0.44% after Arabtec Holding tumbled 1.32%.

Some portfolio investors tended to decrease their positions in blue chips, capital market analyst Mohamed Al Hosni told Mubasher.

Despite the market’s volatile performance, stability of the main index above 3,650 points is a good signal, Al Hosni added.

DFM is expected to decline on Sunday, he said, adding that traders should not increase their positions unless the index breaks above 3,660 points.

The market saw trading of 107.6 million shares through 1,863 transactions, with a turnover of AED 203.6 million.

Translated by: Julian Nabil