Dubai – Mubasher: The Dubai Financial Market (DFM) recorded its third gain in a row on Wednesday on the back of a semi-collective rise of sectors, led by real estate and investment.
The DFMGI leaped 1.78% or 73.32 points and closed at 4,187.25 points. A total of 1.65 billion shares changed hands through 21,502 transactions against 790.5 million shares on Tuesday, whereas turnover doubled to AED 3.09 billion from AED 1.5 billion.
The real estate sector rose 3.17% as Arabtec Holding soared 12.26%, nearing its highest level in four months, in addition to significant gains by Union Properties, which surged 10%, while Emaar Properties added 0.12%.
The investment sector grew 1.8% as DFM Company, Gulf General Investment Co. (GGICO) and Dubai Investments (DI) increased 2.46%, 2.23% and 1.68%, respectively.
The telecom sector added 0.99%, as Hits Telecom was up 2.67%, while the banking sector gained 0.39% as Dubai Islamic Bank (DIB) grew 0.74%.
The real estate sector was the most active in terms of turnover, reaching AED 2.06 billion as Arabtec and UP traded for AED 608.02 million and AED 500.28 million, respectively.
The DFM ended in the green on Tuesday, seeing its highest rise since mid-April amid positive performance by the real estate sector’s Arabtec and Emaar Properties. The DFMGI soared 2.44% or 98 points and closed at 4,114 points, passing the levels of 4,000 and 4,100 points.
