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Real estate stocks push up DFM at Monday’s close

Real estate stocks push up DFM at Monday’s close
The DFM’s general index inched up 0.09% to 2,639.84 points

Dubai – Mubasher: The Dubai Financial Market (DFM) closed Monday’s trading session in green territory on the back of rising real estate blue-chip stocks.

By the end of Monday’s trading session, the DFM’s general index inched up 0.09% to 2,639.84 points.

The real estate sector led gainers with a 1.66% increase, backed by Emaar Malls and Emaar Properties which rose by 3.55% to AED 2.04 and 1.6% to AED 4.48, respectively.

Union Properties’ stock jumped 1.51% in line with the announcement of the expansion of Dubai Autodrome Business Park project in Dubai MotorCity with total AED 25.5 million in investments.

On the other hand, the telecommunication sector fell by 0.97% as du tumbled by the same percentage.

The banks sector shed 0.74%, dragged down by Emirates NBD that fell 1.34%, while the investment sector slid 0.72% when Dubai Investments dipped 0.8%.

Trading volume amounted to nearly 97.73 million shares exchanged through 2,319 transactions at a turnover of AED 165.177 million.