Dubai – Mubasher: The Dubai Financial Market (DFM) trimmed some of its earlier-achieved gains mid-session on Wednesday, as banks slowed down led by Dubai Islamic Bank (DIB).
The DFMGI grew 0.55% or 16.64 points to 3,574 points by 12:20pm UAE time. Turnover reached AED 133.7 million after 78 million shares were traded through 1,570 transactions.
Earlier today, the DFM gained 0.60%, backed by the real estate sector’s Arabtec and Emaar.
Analysts told Mubasher earlier that UAE stock markets may see some stability on Wednesday as some portfolios and investment funds seek to improve their monthly closings.
The real estate sector continued to lead risers, adding 1.26% boosted by Arabtec and Emaar Properties which climbed 2.2% and 1.43%, respectively. Meanwhile, the investment sector added 0.87% as Dubai Investments (DI) increased 1.3%, whereas DFM Company remained flat.
The banking sector edged up 0.14% after DIB retreated from 0.6% earlier in the session to gains of 0.3%, whereas Ajman Bank was in the red.
On the other hand, the transport and consumer staples sectors dropped 1.01% and 0.73%, respectively, while the telecom sector remained unchanged.
