DFMGI avoids weekly decline on banks, telecom

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index edged up 3.8 points, or 0.13%, to close at 2,884.22 points in the week ended Thursday, 12 July, on the back of the banks and the telecommunications sectors.

The transportation sector grew 3.72%, as Air Arabia surged 5% and Aramex increased by 3.37%, while the consumer staples sector gained 1.86% after DXB Entertainments went up 2.08%.

The telecommunications sector and its only stock, du, added 1.81% each, while the banks sector rose 0.41%, as Emirates NBD went up 1%.

By contrast, the real estate sector shed 1.45% after Emaar Properties and Arabtec Holding lost 1.57% and 2.45%, respectively. Meanwhile, Drake and Scull International's (DSI) stock hiked 8.16%.

The DFM needs more liquidity due to the lack of incentives, but listed-companies’ disclosures for the first six months of 2018 could boost the market, MubasherTrade’s senior sales trader Mohab Maher told Mubasher.

Mubasher Contribution Time: 12-Jul-2018 14:08 (GMT)
Mubasher Last Update Time: 12-Jul-2018 14:15 (GMT)

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