Dubai – Mubasher: The Dubai Financial Market (DFM) opened Wednesday, the last trading session in September in the green, backed by the real estate sector’s Arabtec and Emaar.
The DFMGI added 0.6% or 21 points to 3,575.6 points by 10:25am UAE time, registering its first rise after four straight declines. Turnover reached AED 38.52 million after 20 million shares were traded through 453 transactions.
Analysts told Mubasher 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 topped gainers, after rising 0.97% backed by Arabtec and Emaar Properties which surged 1.67% and 1.43%, respectively, while the investment sector grew 0.75% as Dubai Investments (DI) and DFM Company were up 0.86% and 0.6%, respectively.
The banking sector advanced 0.32% after Dubai Islamic Bank (DIB) added 0.6%, while Amlak increased 1.5%.
On the other hand, the telecom sector was the only loser, falling 0.2% after du declined similarly to AED 5.
The DFM ended Tuesday in the red, registering its fourth decline in a row, pressured by the banking and real estate stocks, particularly DIB and Emaar Properties.
