|24 January, 2020

Banks boost Dubai's DFM in week; market cap gains $1.18bln

The consumer stables sector jumped 6.36%

General view of the Dubai Financial Market in Dubai, United Arab Emirates, January 8, 2020.

General view of the Dubai Financial Market in Dubai, United Arab Emirates, January 8, 2020.

REUTERS/Christopher Pike

Dubai – The Dubai Financial Market’s (DFM) general index rose by 9.71 points, or 0.34%, to 2,837.99 points in a week, on the back of the banking sector.

Market capitalisation went up by AED 4.35 billion to AED 386.05 billion over the week, compared to AED 381.7 billion in the previous week.

The consumer stables sector jumped 6.36%, the banking sector levelled up by 2.44%, and the investment sector added 2.56%, while the real estate and services sectors declined by 2.99% and 1.76%, respectively.

DXB Entertainments surged 7.87%, whereas Dubai Investments gained 5.38%, Emirates NBD grew by 4.12%, and Dubai Islamic Bank increased by 1.23%.

On the other hand, Damac Properties shed 2.05%, while Emaar Properties and Arabtec Holding declined by 1.42% and 0.82%, respectively.

Source: Mubasher

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