Dubai – Mubasher: The Dubai Financial Market (DFM) commenced Thursday in the green following a wave of gains on most of its leading stocks. The DFMGI leaped 1.9% or 65 points by 10:20am UAE time to 3,470.45 points.
The DFM closed Wednesday in the red, recording its biggest decline since January and its highest losses in 2015 amid intensive selling on leading stocks. The DFMGI nosedived by 126.11 points or 3.57% to 3,408.18 points, going further below the level of 3,500 points.
The index was backed by gains in the banking, real estate and investment sectors, whereas the transport sector’s Air Arabia continued its decline, falling 0.7%. Moreover, Emirates NBD shed 0.34%
The real estate sector grew as Emaar Properties gained 2.7% to AED 6.42 after 11 million shares were exchanged. The company denied news that its board chairman, Mohammed Al-Abbar, had resigned.
Arabtec added 1% to AED 2.68 after 3.8 million shares were traded, following the company’s confirmation that it is about to start work on a planned 1 million-unit housing project in Egypt.
DFM investors are awaiting Arabtec’s announcement of its financials for 2014 today.
