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DUBAI / WAM
Driven by gains held by banking and investment sectors as well as some property companies, Dubai Financial Market (DFM) initiated week’s trades on an improvement note after experiencing a regular profit-booking spree on Thursday, closing 0.64% up at 3596 points, with Abu Dhabi Securities Exchange edging slightly down 0.39% to 4534 points amid overall stable trading conditions.
Within this context, Emirates NBD rose to AED9.09 followed by Dubai Islamic Bank at AED5.86, with Ajman Bank exceeding expectations and gaining 7.7% to close high on AED1.25. Advancing shares at DFM included the Investment Corporation of Dubai which rose by 4.3% to close at AED4.41, while Amlak was among the top performers, closing on a high note of AED1.16, after hitting a high of AED1.24 during the session, gaining 3.6%. A selective purchasing spree continued targeting some blue chips as has been the case over the past fortnight, with the market still awaiting leading companies at the real estate and banking sectors to disclose their H1 financial results, which means, according to many analysts, that the largest volume of transactions is yet to be conducted over the rest of the current week.