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DFM ends Tuesday in green

DFM ends Tuesday in green
The DFM’s general index gained 87.37 points

By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market (DFM) has closed Tuesday’s trading session in green territory, shrugging off the recent geopolitical tensions.

The DFM’s general index gained 87.37 points, or 3.5%, finishing the mid-week session at 2,612.98 points.

The real estate sector led the top gainers with a 5.83% increase as Emaar Malls jumped by 13.75% to AED 1.82 and Emaar Development grew 8.81% to AED 0.729.

Likewise, the consumer goods rose 4.94% as DXB Entertainments went up 5.98%.

 Meanwhile, the banks sector increased 3.09% on the back of Dubai Islamic Bank which rose 3.64%, and the telecommunication sector added 0.99%.

Trading volume amounted to nearly 351.72 million shares exchanged through 5,757 points at a turnover of AED 398.22 million.

Emaar Malls was the most heavily traded stock with a turnover of AED 61.44 million exchanged through 34.67 million shares.

The DFM was expected to see rebound amid the recent geopolitical tensions, economist Jamal Agag told Mubasher.

He stressed that the prices of the stocks have become more attractive ahead of the end of quarterly financial results announcements.

 

Translated by: Mai Ezz El-Din