Dubai Financial Market gained 1.83%

Foreign investors net DFM sellers by AED 14.11 mln

Dubai Financial Market General Index (DFMGI) closed today’s session with a significant gain of 1.83 %, or nearly38 points, snapping a string of four consecutive declines.

The Index opened in the green to hit an intraday high of 2116.18 pts, but it curbed its gains to settle at 2111.59, according Mubasher data.

Trading volume climbed from 137.4 million shares yesterday to near 161.7 million shares. Similarly, turnover rose from AED 281.4 million to approx. AED 345.4 million, generated through 3921 trades.

Out of the 28 traded securities, 19 finished in the green, three closed in the red, while six kept flat.

Takaful House spearheaded advancers, leapfrogging6.09 % to close at AED 2.09. Takaful Al Emarat ranked second, jumping 5.80% to AED 1.46. It was followed by Union Properties (UP) that climbed 4.44% to AED 0.94.

Most property stocks ended in the positive territory. Emaar topped most actives by a traded volume of roughly 40 million shares and turnover of AED 168.3 million.

Arabtec and Drake & Scull International (DSI) hiked 3.65% and 3.09% in a row.

On the bleak side, SHUAA Capital was today’s biggest drag, falling 3.24% to shut at AED 1.79. It was followed by Commercial Bank of Dubai (CBD) with a loss of 2.56% to AED 3.80. Al Salam Bank –Sudan took the third position, shedding2.43 % to AED 2.41.

All sectors ended on an up note, led by Real Estate & Construction that rose 2.90%, followed by Investment & Financial Services (2.81%) and Transportation (1.88%).

Telecommunication tailed the list, adding 0.63%, spurred by the rise of du by the same percentage to close at AED 3.22.