Cherry-picking deals boost DFMGI Wednesday

By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index rose 0.8% to close at 3,167.22 points on Wednesday on the back of the selective buying.

The general index grew due to some selective buying transactions, as a group of stocks touched attractive prices, vice president of Investment Research at KAMCO Raed Diab told Mubasher.

The telecommunication sector and its only stock, du, added 0.8% each.

The transportations sector went up 0.22% after Aramex grew 0.46% to AED 4.32, while the banks sector levelled up 0.15%, as Emirates NBD increased by 0.48% to AED 10.5.

The real estate sector gained 0.14% after Damac Properties surged 3.3% to AED 3.1 and Arabtec Holding added 0.8% to AED 2.3.

On the other hand, the consumer staples sector lost 1.53% after DXB Entertainments shed 1.6% to AED 0.549.

The investment sector went down 0.6%, as Dubai Investments fell 0.91% to AED 2.17.

The DFM’s trading volume shrank to 118.26 million shares from 132.45 million on Tuesday, while the market’s liquidity declined to AED 240.53 million through 2,368 transactions, versus AED 325.07 million in the previous session. 

GFH Group was the most actively-traded stock in the DFM in terms of volume, with 20.47 million traded shares, while Emaar Properties topped the market in terms of liquidity, with a turnover of AED 49.94 million.


Translated by: Muhammad Khalid

Mubasher Contribution Time: 14-Mar-2018 12:11 (GMT)
Mubasher Last Update Time: 14-Mar-2018 12:13 (GMT)

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