The Dubai Financial Market’s (DFM) general index grew 15.94 points, or 0.55%, to close at 2,900.16 points on Sunday.
The positive expectations about the listed banks’ disclosures encouraged some portfolios to cherry-pick some stocks, especially, Dubai Islamic Bank’s (DIB), which pushed up the market, senior financial analyst at Mena Corp Issam Kassabieh told Mubasher.
The insurance sector added 2.83%, as Takaful hiked 14.93% to AED 0.885, while Aman soared 8.58%.
The expected growth in listed insurers’ profits during the first six months of 2018 boosted the sector on Sunday, Kassabieh commented.
The telecommunication sector and its only stock, du, went up 0.9% each, while the real estate sector increased by 0.9% after Emaar Malls and Emaar Properties gained 1.93% and 0.8%, respectively.
The investment sector levelled up 0.5%, as DFM Company added 0.7% and Dubai Investments grew 0.5%.
The DFM’s trading volume reached 122.67 million shares, while the market’s liquidity amounted to AED 115.99 million.