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DFMGI rises 6 pts Monday

DFMGI rises 6 pts Monday
The banks sector went up 0.47%

By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index added 6.02 points, or 0.18%, to 3,298.07 points on Monday.

The DFM’s trading volume shrank to 122.12 million shares form 160.88 million on Sunday, while the market’s liquidity declined to AED 214.11 million versus AED 225.85 million in the previous session.

Following a period of decline, the UAE’s markets are bound to level up, initiating a rising trend, the financial analyst Ahmad Sabha told Mubasher.

Some stocks dropped to attractive levels, including Dubai Parks, Marka, Arabtec Holding, the DFM Company, Dubai Investments, and GFH Group, Sabha added.

The DFM has a great potential, which is not reflected in the GI’s performance, Sabha commented.

The only reliable way to swing back to a quick growth in the DFM is by securing official support, before receiving the support of individuals, the analyst concluded.

The industrial sector jumped 14.9% after National Cement surged 14.9% to AED 3.16.

The banks sector went up 0.47% after Mashreq Bank soared 6.7% to AED 80.

The real estate sector upped 0.33%, as DAMAC Properties levelled up 1.82% to AED 3.35.

Emaar Properties was the most actively-traded stock on the DFM in terms of liquidity, with a turnover of AED 68.07 million, while Ithmaar led the market in terms of volume, with 26.99 million traded shares.

 

Translated by: Muhammad Khalid