DFM hits highest weekly level since July

DFM hits highest weekly level since July
The real estate sector added 1.5% pushed by Emaar Properties, which grew 2%

By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market’s (DFM) main index reached its highest weekly level since July on the back of blue chips.

The DFMGI went up 1.93% or 17.69 points to end the week at 3,660.27 points.

The investment sector led the market’s gainers with 4.77% after Dubai Investments and DFM Company added 5.12% and 2.6%, respectively.

The banks sector went up 1.7% after Dubai Islamic Bank (DIB) increased by 1.63% on the back of its disclosure of its profits which were up 10% year-on-year to AED 3.301 billion in the first nine months of 2017.

The real estate sector added 1.5% pushed by Emaar Properties, which grew 2% after the announcement of new projects.

The DFM’s trading volume reached 1.54 billion shares over the week, compared to 707.68 million shares in the week ended 5 October, while the market’s turnover surged to AED 2.12 billion from AED 1.05 billion. 

 

Translated by: Muhammad Abdulwakeel

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Source: Mubasher Exclusive

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