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ABU DHABI / WAM
Driven by a high level of liquidity targeting a set of blue chips, the Dubai Financial Market (DFM) recorded an impressive volume spike, auguring well for a price improvement over the coming days.
Reflecting the same bullish view, the Abu Dhabi Securities Exchange (ADX) closed high thanks to a noticeable rise in Etisalat’s share which closed at AED17.75.
Wednesday’s transactions consolidated the market value of trading companies by around AED4.3 billion, AED3.8 billion of which was recorded at DFM, with analysts attributing the upbeat sentiments to the imminent disclosure of biannual financial statements. Affirming the prevailing positive mood, the DFM General Index jumped 1.59 percent closing at 3494, with ADX General Index following suit, closing at 4409, a 0.02 percent up over Tuesday’s session.
A close reading of Wednesday’s trading shows that DFM real estate sector was the best performer, spiking by 3%.