Dubai-Mubasher: Dubai Financial Market (DFM) reversed the downward trend it maintained for three successive sessions on Monday, backed by the rise of investment, transportation and real estate sectors.
The DFMGI rose 0.24% or 7.8 points to reach 3,216.36 points.
Some blue chips saw positive speculations before they enter into recession, especially with the approach of summer vacation and Ramadan, capital market analyst Salam Saeed told Mubasher.
The general index is technically weak as it did not test the important resistance at 3,250 points, Saeed added.
The investment sector topped gainers after adding 1.8% due to an increase in SHUAA Capital.
The transportation sector grew 0.7% as Gulf Navigation Holding advanced 1.9%.
The real estate sector levelled up 0.09% due to a rise in Emaar Malls Group by 2.8%.
On the flipside, the telecom sector retreated after du declined 0.16%.
Turnover stood at AED 315 million on Monday, compared to AED 182.3 million on Sunday.
Trading volume reached 278.27 million shares, compared to 172.2 million shares.
The DFMGI is likely to continue its volatile trend and target 3,000 points on Tuesday, Saeed noted, adding that investors should not increase their positions till the oil prices rise above $50 per barrel.
