Emaar Properties's stock pushes DFM up Thursday

Emaar Properties's stock pushes DFM up Thursday
The DFMGI may rise in the coming sessions

By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index gained 1.02% or 34.89 points on Thursday to close at 3,449.81 points, boosted by Arabtec Holding's and Emaar Properties' stocks.

The DFM is witnessing a growth after six successive losses, financial analyst Razan Shahwan told Mubasher.

The real estate sector’s stocks pushed up the DFMGI, especially DAMAC Properties, Emaar Properties, Emaar Malls, and Deyaar Development, Shahwan added.

Mashreq Bank led the DFM’s gainers, jumping 5.8% to AED 69.95, while DAMAC Properties surged 4.9% to AED 3.59.

SHUAA Capital rose 3.8% on the back of positive results, while GFH Group increased by 3.6% on reports concerning the group's listing on the Saudi Stock Exchange (Tadawul).

Emaar Malls went up 2.8% to AED 2.23, while Emaar Properties levelled up 1.3% to AED 7.8.

The DFMGI may rise in the coming sessions after breaking below 3,600 points and 3,500 points over the week, the analyst concluded.

The DFM's trading volumes shrank to 242.09 million shares on Thursday from 310.66 million shares on Wednesday, while the market's turnover declined to AED 486.41 million, compared to AED 527.7 million in the previous session.


Translated by: Muhammad Abdulwakeel

Source: Mubasher