The Dubai Financial Market’s (DFM) general index added 0.8%, or 26.53 points, to 3,341.46 points on Tuesday on the back of blue chips.
The cherry-picking buying transactions today, especially on Emaar Mall’s shares, pushed up the DFM, the financial analyst at Mena Corp Issam Kassabieh said.
The transportation sector surged 3.2% after Aramex soared 7.3% to AED 4.4, while the consumer staples sector gained 1.03%, as DXB Entertainments rose 1.75% to AED 0.58.
The growth of DXB Entertainments’ stock can be explained in the light of the expected capital increase in the UAE-based company, Kassabieh commented.
The real estate sector grew 0.8% after Emaar Malls, DAMAC Properties, and Emaar Development levelled up 3.6%, 2.04%, and 0.7%, respectively.
These positive results did not mean that the anticipation on the market has faded away, as investors are waiting for major disclosures, topped by the financial results of DAMAC Properties, Arabtec Holding, and GFH Group, Kassabieh explained.
The banks sector went up 0.46%, as Emirates NBD and Dubai Islamic Bank (DIB) increased by 1.74% and 0.16%, respectively.
The investment sector upped 0.41% after Dubai Investments and SHUAA Capital rose 0.87% and 0.9%, respectively.
The DFM’s trading volume surged to 232.27 million shares from 176.72 million on Monday, while the market’s liquidity reached AED 339.3 million, compared to AED 300.44 million in the previous session.