Dubai – Mubasher: The Dubai Financial Market (DFM) saw a positive performance on Tuesday, backed by the rise of blue chips topped by Emaar Properties and Dubai Islamic Bank (DIB).
The general index added 0.08% or 2.86 points to reach 3,433.74 points.
The strong positive performance of global stocks on the back of the announcement of US President Donald Trump’s tax plan encouraged traders to enter the market, technical analyst Ahmed Ismail told Mubasher.
The Trump administration unveiled its plan to slash the rate of corporation rate to 15%.
The consumer staples sector topped gainers with a 2.38% rise as DXB Entertainments added grew 2.11%.
The banks sector levelled up 1.62% due to a rise in Dubai Islamic Bank (DIB) by 1.03%.
The investment sector grew 1.19% after Dubai Investments climbed 1.41%.
Traders should be cautious in the current period, he said adding that the market’s liquidity is week.
Trading volume reached 235.78 million shares on Tuesday, compared to 135.01 million shares on Monday. Turnover amounted to AED 336.39 million, compared to AED 278.25 million.
