The Dubai Financial Market (DFM) has gained over AED 5.35 billion by the end of Wednesday’s trading session on the back of the recently announced permanent residency system for foreign investors and eligible expats.
The DFM’s general index jumped 45.11 points, or 1.78%, to 2,584.35 points.
The investment sector has pushed the DFM up after rising 2.5% on the back of Shuaa Capital that went up 4.35% to AED 0.840.The real estate sector added 2.5%, encouraged by Deyaar Development and Arabtec Holding which climbed 6.7% to AED 0.320 and 6.7% to AED 1.52, respectively.
Likewise, the banks sector levelled up 1.91% as Dubai Commercial jumped 11.7%, while the insurance sector increased 1.86% when Dar Takaful grew 9.91% to AED 0.488.
On the other hand, the services and transportation sectors slid 1.28% and 0.81, respectively.
The bourse’s liquidity rose marginally to AED 103.09 million ($28.06 million).
Trading volume amounted to 152.43 million shares exchanged through 2,929 transactions at a turnover of AED 169.77 million.
GFH, up 5.6% to AED 0.904, was the most active stock in terms of liquidity with a turnover of AED 27.41 million, while Union Properties, which grew 2.6%, was the most active stock in terms of trading volume with 28.44 million shares.
Market capitalisation gained around AED 5.35 billion ($1.45 billion) and closed the session at AED 344.56 billion ($93.82 billion).