Dubai – Mubasher: The Dubai Financial Market (DFM) opened Tuesday in the green, after three straight sessions of declines.
The DFMGI grew 0.7% or 29 points to 4,098 points by 10:30am UAE time. Turnover reached AED 88 million as 85 million shares were traded through 1,102 transactions.
Dubai Islamic Bank (DIB) led risers, surging 1.9% to AED 7.61, prompting a 1% rise in the banking sector. Meanwhile, the real estate sector increased, powered by Arabtec’s 1.8% gain to AED 2.3.
A total of 16 stocks traded, of which four were in the red, led by Air Arabia, making the transport sector the only decliner.
Several factors including the approach of the summer holidays and companies’ financials have affected performance in UAE markets in the previous sessions, resulting in weak liquidity and performance as well as fluctuations, analysts told Mubasher.
The DFM closed Monday in the red following strong selling on blue chips led by DIB, Emaar, Arabtec and Dubai Investments (DI).
