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Stock collection boosts DFM Sunday

Stock collection boosts DFM Sunday
The consumer staples sector surged 4.6%

By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index gained 0.57% to close at 3,842.67 points on Sunday on the back of huge purchases of blue chips.

Today, the DFM succeeded in the continuation of its positive performance due to a stock accumulation trend targeting low-price shares, MindCraft Consultants’ CEO Fadi Al Ghattis told Mubasher.

The growth of Emaar Development has stemmed from the expectations regarding the approval of dividends distribution by the company’s ordinary general meeting (OGM) this week, Al Ghattis added.

The consumer staples sector surged 4.6%, as DXB Entertainments soared 5.1% to AED 0.317.

The banks, services, telecommunication, and real estate sectors added 1.2%, 0.74%, 0.19%, and 0.16%, respectively.

The DFM’s trading volume registered 307.95 million shares, while the market’s liquidity hit AED 251.75 million.

Market capitalisation increased by AED 1.74 billion ($474 million) to AED 372.67 billion ($101.44 billion).

 

Translated by: Muhammad Khalid