By: Mahmoud Gamal

Dubai – Mubasher: Drake and Scull International’s (DSI) and GFH Group’s stock acquired a combined 52% of the Dubai Financial Market’s (DFM) liquidity on Thursday.

By 12:45 am UAE time, the trading value of both DSI’s and GFH’s stocks reached AED 81.5 million, while the DFM’s total liquidity was around AED 156.9 million.

DSI was the most-actively traded stock in terms of trading value with AED 52.03 million followed by GFH, which generated AED 29.44 million.

Trading volume of DSI and GFH combined reached 48.9 million shares, which account for 32.7% of the 149.4 million-shares traded on the DFM.

DSI rose 0.3% to AED 1.67, while GFH grew 1.23% to AED 1.64.

In the meantime, the DFM’s main index increased by 0.10% to 3,602.20 points, pushed by the rise of DSI and GFH.

DSI’s announcement of the success of its restructure programme has encouraged investors to keep their investments in the stock, Ahmed Al Musalami, technical analyst, told Mubasher.

GFH is seeing stock collections, which are expected to continue until the Bahrain-based bank releases its financial results for the third quarter amid positive news of new acquisitions in the market, Al Musalami added.

Jassim Alseddiqi, CEO of the Abu Dhabi Financial Group (ADFG), recently told Mubasher that his company was studying investment opportunities in the UAE and abroad along with acquisitions in listed companies.

In the last two years, ADFG pumped up to AED 500 million to buy shares in Gulf Navigation Holding, GFH, and Eshraq Properties.