Dubai – Mubasher: Drake and Scull International’s (DSI) stock reached its highest level since 16 February on the Dubai Financial Market (DFM).

By: 10:40 am UAE time, DSI’s stock jumped 5.26% to AED 2 with a turnover of AED 101.59 million and 50.77 million traded shares.

Meanwhile, the real estate sector dropped 0.23%.

In light of the expectations for the third quarter results and the successful restructure programme, it is not strange that portfolios were quick to buy the stock, technical analyst Salman Khalaf told Mubasher.

DSI’s stock is targeting the AED 2 and AED 2.25 levels in views of the cherry-picking of stocks by investors, especially the real estate stocks, prior to the disclosure of the companies’ quarterly results, Khalaf added.

The DFMGI inched up 0.16% to 3,660.19 points.