DFM General Index rises 1.22%

Dubai Financial Market General Index (DFMGI) closed today’s session with a remarkable gain of 1.22 %, or nearly 26 points. Paring last week’s losses of around 4.55%, the Index moved upwards to touch an intraday high of 2161.36 pts, before settling at 2123.26.

Trading volume rose slightly from 243.1 million shares on Thursday to nearly 253 million shares. Similarly, turnover climbed from AED 482.8 million to approx. AED 541.4 million, generated through 6309 trades.

Out of the 30 traded securities, 15 ended in the green, ten finished in the red, while five remained unchanged.

Mazaya spearheaded advancers, skyrocketing 14.81% to close at AED 3.10. Gulfa ranked second, leapfrogging 4.71% to AED 5.34. It was followed by Global Investment House that jumped 4.17% to AED 1.50.

Emaar topped most actives by traded volume and value, upon exchanging approx. 52.6 million shares at a total of nearly AED 225.6 million, accounting for almost 21% of total trading. The stock rallied by 1.45 % to finish at AED 4.21.
Dubai Financial Market Co. (DFMC) came second, upon trading around 44.3 million shares at a total of AED 100.6 million. The stock kept flat at AED 2.22.

On the bleak side, Al Firdous was today’s biggest drag, falling 4.64 % to close at AED 1.85. It was followed by Gulf General Investment Co. (GGICO) with a loss of 3.80 % to AED 1.52. Al Madina took the third position, shedding 3.74% to AED 1.03.

All sectors ended collectively in the green, except for Insurance that inched down 0.12%, hurt by the decline of SALAMA (0.93 %) and Aman (0.84%).

Banks topped the advancing sectors with a rise of 1.70%, followed by Real Estate & Construction (1.32%) and Investment & Financial Services (1.16%). Telecommunication tailed the list with a gain of 0.27%.