By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index recorded its first weekly increase after four successive declines, encouraged by an improvement in global markets and higher oil prices.

The general index levelled up 18.78 points, or 0.73%, ending the week at 2,599.05 points.

The services sector topped the bourse’s gainers adding 8.9% due to Amanat Holding’s increase, followed by the insurance sector with 1.68% as Islamic Arab Insurance (Salama) rose 3.8%.

Similarly, the transportation sector went up went up 0.81% after Aramex and Air Arabia grew 1.91% and 0.81%, respectively.

On the other hand, Emirates NBD’s stock headed the DFM’s losers with 1.11%, followed by Dubai Islamic Bank and DFM Company with 1.14% and 1.12%, respectively.

Over the week, the DFM’s liquidity increased to AED 733.8 million from AED 624.77 million in the week before, while the trading volume went up to 893.97 million shares against 492.04 million in the previous week.

The market witnessed a correction trend over the past five years, enhanced by the performance of the blue-chip stocks such as the real estate and insurance sectors, deputy head of the investment research unit at KAMCO Raed Diab told Mubasher.

The market will see some fluctuation over the coming period amid companies’ disclosures for the fiscal year 2018, Diab forecast.

He added that the index is expected to reach resistance at 2,630, then moving to 2,700 points.

Translated by: Kholoud Mohamed Hussein