ادسنس

Sunday, May 31, 2015

Dubai Stock Market rises thanks to "Arabtec" and "banks"

Dubai Financial Market ended Monday's session in green, to come back its gains supported by gains in the real estate sector led by Arabtec besides banks and investment.

And the general index of the market closed up by 0.44%, adding 17.7 points to his tally which rose up to the level of 4067.67 points, to offset some of the losses on Sunday.

The market index ended the first week's sessions in red, raising its losses by the end of the session to 1.67%, falling to its lowest level in May.

Analysts said for "Mubasher" that: The UAE stock markets could see gathering operations on the blue chip stocks and the stocks with good profitability trading.

Industry gains was on the top by the end of the session with a rise of 6.88% in light of the rise of the national cement shares to the level of 4.350 dirhams, up by the same percentage.

Talal El-Khoury, Executive Chief Officer of "Alawaael" Holding Company said that: The UAE markets witnessed a "weak performance" in Monday session despite cohesion, which appeared in poor liquidity.

Al Khoury added for "Mubasher" that the big stocks have not seen good activity in both markets, and activities were focused on small stocks, if we exclude Arabtec stock in Dubai, which came back to its positive activity after a wave of declines.

And the real estate sector closed up by 0.45%, with direct support from Arabtec which achieved a rise of 2.15%, while the closure of Emaar came down by 0.87%.

And investment sector recorded a rise of 0.62% at the close supported by gains of Dubai Investments, which amounted to 0.68%, as well as rise of Dubai Financial Market up to 0.52%.

The closure of the banking sector rose by 0.19% in the face of rising of Emirates NBD, Dubai Islamic by 0.51% and 0.14% respectively.

Talal Al Khouri pointed out that the UAE markets could see some of the other rises, but then may enter in a wave of declines with the approach of the month of Ramadan and summer holidays.

In contrast, the telecom sector closed in red, down by 0.39% in light of falling of de share down to the level of 5.080 dirhams.

Monday session witnessed a continuation of the low liquidity, the trading values ​​fall to about 369 million dirhams compared to 388.26 million dirhams in the previous session, with trading volume reached 266.74 million shares compared to 230.75 million shares in the session on Sunday.


Al Khour noted in his interview for "Mubasher" that the markets that have been exposed to a negative performance during the month of June over the recent years, which creates a kind of fear among traders from repeating this "scenario" through next June.