By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) managed to reverse its negative performance on Wednesday, backed by the rise of Emaar Properties and Emirates NBD.
The main index rose 0.11% to reach 3,582.25 points.
The market managed to gain its buying momentum, amid investors’ optimism and tendency to build up new positions, Raed Diab, Vice President of Investment Research Department in KAMCO, told Mubasher.
Traders are still waiting for further second-quarter financials, Diab noted.
The market was supported by the banks and real estate sectors which added 0.26% and 0.11%, respectively
Ajman Bank was the top gainer with a 2.6% rise, while Emirates NBD, Drake and Scull International (DSI), and Emaar Properties went up 0.87%, 2.05%, and 0.9%, respectively.
The bourse may see some selling pressures in the coming period, Diab added.
Translated by: Julian Nabil
