DFM stages biggest rally in month on Wednesday

Dubai – Mubasher: The Dubai Financial Market (DFM)’s index continued its growth by the end of Wednesday’s trading session, keeping Tuesday’s performance level.

The benchmark index increased by 1.05%, or 28.99 points to reach 2,787.38 points, registering the biggest rally since 18 November.

The DFM saw trading of 192.41 million shares through 3,299 transactions at AED 261.51 million liquidity.

The market cap value went up by AED 2.88 billion to AED 377.23 billion, compared to AED 374.35 billion a day earlier.

As for the sectors, the real estate was the top gainer with a rise of 1.62%, followed by the services with 1.42%, the investment and financial services with 1.20%, and the banks sector with 0.74%, while the consumer staples sector was the only decliner with a decrease of 0.84%.

A total of 15 stocks have increased, with Al Salam Group Holding, which is also listed on Boursa Kuwait, topping the gainers with 5.71%. Meanwhile, eleven shares fell, with Ekttitab Holding, which is also listed on the Kuwaiti exchange, being the biggest loser with 2.78%.

Union Properties was the most active stock with 39.26 million traded shares, while Emaar Properties posted the highest turnover at a value of AED 57.82 million.

Emaar Properties’ stock went up with 1.98%, followed by Damac Properties Dubai Company with 1.73%, and Dubai Investments with 1.56%.

Meanwhile, the stock of Emirates NBD recorded a 1.18% increase, followed by Dubai Islamic Bank (DIB) with 0.36% after the bank’s shareholders had approved the acquisition of Noor Bank.

On the other hand, the share of Arabtec Holding decreased with 1.44%, followed by DXB Entertainments with 0.99%.