The DFM General Index gained 1.29 per cent to close at 4025.69 on higher volumes, but declining turnover. The total volume traded stood at 1.33 billion shares, which were valued at Dh1.83 billion, a drop of 27.38 per cent from Sunday's Dh2.52 billion.
In the capital, the
"Many corporates have released some pretty good news in the past days and investors are still buying the market," he said.
In the past couple of weeks, news of companies winning contracts, mainly in the real estate and construction, has helped boost the markets significantly.
Going forward, markets are likely to alternate between bits of profit taking and buying.
"We can expect volatility and a pendulum effect will likely come into play as we pass through fair value, but it is important to note that the center point for fair valuation of the pendulum is shifting as underlying fundamentals are undoubtedly getting stronger," said
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