The Dubai Financial Market’s (DFM) general index grew 19.3 points, or 0.67%, to close at 2,919.46 points on Monday, pushed up by blue chips, especially Emaar Properties.
The UAE markets saw selective purchases on Monday, a great deal of which was directed at Emaar’s shares, after reports about deals signed by the developer to sell AED 5.14 billion in assets, Mubasher’s senior sales trader Mohab Maher commented.
These deals are expected to have a positive impact on the company’s liquidity, projects, and returns, Maher added.
The DFM’s trading volume reached 135.01 million shares, while the market’s liquidity hit AED 181.55 million.
The services sector gained 2.13% after Tabreed added 2.8% to AED 1.8 and the real estate sector went up 1.68%, as Emaar Properties rose 2.77% to AED 5.2.
The transportation sector increased by 0.28% after Air Arabia grew 0.9% to AED 1.07, whereas the banks sector inched up 0.09%, as Dubai Islamic Bank (DIB) levelled up 0.2%.
Today’s stock collection trend is the result of the forecasts concerning the listed companies’ disclosures for the first six months of 2018, the analyst said.
The DFM could maintain its positive performance to the end of the week, as disclosures begin to emerge, Maher noted.