Dubai – Mubasher: Dubai Financial Market ended Tuesday on an up note, reversing a three-session losing streak, backed by Emaar, DIB and Dubai Investments.
The main gauge rose 0.65% or 22.67 points to close at 3,533.95 points.
Analysts told Mubasher earlier today UAE stock markets may consolidate following the recent correction and after equities reached attractive price levels.
Tuesday’s turnover declined to AED 203.13 million ($55.3 million), down from AED 261 million ($71 million) on Monday. Traded volume also decreased to 104.7 million shares, from 157.5 million shares.
The consumer staples sector was the top gainer, a rise of 2.5%, backed by Dubai Parks that rallied by 2.86%.
The investment sector came second, with a gain of 1.32%, after Dubai Investments and DFM Company advanced by 1.72% and 0.6% in a row.
The real estate sector shut 0.95% higher, supported by property developer Emaar that rose 1.14%; meanwhile, Arabtec remained unchanged.
The banks sector tailed the gainers’ list, edging up 0.1% as DIB advanced by 1.2%, while Emirates NBD slipped by 2.08%.
On the negative front, the services sector was the sole decliner, shedding 1.25% hurt by Tabreed that led losers with a fall of 3.3%.
The telecoms sector kept flat.
Translated by Sayed Abdel Rahman
