By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market (DFM) closed Wednesday in green, on the back of the long positions in leading stocks.

The general index rose 0.66% or 23.92 points to 3,665.36 points.

The improved performance of the investment and banks stocks, as well as the continuous mixed performance in the stocks that did not announce quarterly results, caused the rise, Al-Sharhan Centre general manager Gamal Agag said.

The investment sector led the gainers with 3.4%, backed by Dubai Investment with 4.4%, after negotiating full acquisition of Emicool.

The banks sector also rose, led by Emirates NBD with 0.6% and Dubai Islamic with 0.3%.

Despite expecting special dividends after Emaar Development IPO, Emaar Properties’ stock rose marginally 0.6% to AED 8.55.

Emaar did not achieve the expected rise due to the lack of clear data on dividends, while other stocks managed to attract the investors, Agag said, noting that the market will stabilise during Thursday’s session, except for some price adjustments for highly-rising shares.

Trading volume on Wednesday reached 326.81 million shares, versus 296.25 million shares on Tuesday, whereas traded value hiked to AED 568.31 million from AED 455.78 million.

Translated by: Mohammad Shokhba