Real estate boosts DFMGI at Sunday's close

By: Enas Bahgat

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index rose 0.53%, or 18.35 points, to 3,512.98 points on the back of the real estate sector.

The real estate sector went up 0.91% after Deyaar Properties, Emaar Properties, DAMAC Properties, and Emaar Development grew 2.33%, 1.67%, 0.59%, and 0.52%, respectively.

The bank sector levelled up, as Emirates NBD, Al Salam Bank, and Dubai Islamic Bank (DIB) added 1.84%, 1.79%, and 0.62%, respectively.

The DFM’s trading volume increased to 183.47 million shares from 180.11 million on Thursday, while the market’s liquidity surged to AED 277.97 million, compared to AED 237.8 million in the previous session.

The general index may rise again to 3,505-point and 3,567-point levels, coinciding with the annual disclosures and the planned dividends, Technical analyst Gamal Abdul Hamid told Mubasher.

Technically, breaking above 3,494.63 points is not negative and helps to maintain 3,481-point level, Abdul Hamid added.


Translated by: Muhammad Khalid

Mubasher Contribution Time: 14-Jan-2018 11:23 (GMT)
Mubasher Last Update Time: 14-Jan-2018 11:28 (GMT)

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