By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index gained 16.5 points, or 0.55%, to close at 3,042.82 points on Thursday, shrugging off its eight consecutive losses.

The DFM’s trading volume shrank to 142.71 million shares from 180.17 million on Wednesday, while the market’s liquidity declined to AED 190.55 million versus AED 243.78 million in the previous session.

The UAE’s markets have succeeded in closing in the green on the back of selective buying transactions, Mohab Maher, Mubasher’s senior sales trader said.

The DFM’s liquidity is still low, as the market remains in need for new market-boosting catalysts, Maher added.

The consumer staples sector surged 3.45% after DXB Entertainments soared 3.6% to AED 0.397, while the real estate sector added 1.73%, as Arabtec Holding and Emaar Properties went up 3.9% to AED 2.1 and 2.96% to AED 5.57, respectively. 

The transportations sector gained 0.78% after Air Arabia levelled up 1.67% to AED 1.22.

The telecommunication sector and its only stock, du, rose 0.41% each, while the banks sector grew 0.21%, as Dubai Islamic Bank (DIB) increased by 0.9% to AED 5.45.

On the flipside, the investments sector dropped 3.8% after Dubai Investments plunged 5.8% to AED 1.93.

Translated by: Muhammad Khalid