The figures mark a quick recovery from Sunday when the DFM index fell 5.99 per cent on the back of a 9.9 per cent plunge by powerhouse,
Shares started the day at a price of Dh4.1, and remained relatively stable until shortly before
Other powerhouses in Dubai ended the day in the green, though.
Meanwhile, the DFM index started the first hour of trade with a plunge to reach a low of 4,414.8. This was followed, however, by an incline throughout the rest of day until the index closed at its highest point of the day.
"The total trade value was strong as it approached Dh3 billion, but the DFM index needs to break a resistance level of 4,880 in order to ensure there is real purchasing power in the market rather than speculators," he said.
As for ADX, the analyst said, "The market appears to be quite weak. I am not optimistic with the banking sector. Elsewhere,
Of the 31 stocks traded on DFM, 26 went up, four went down, and one remained unchanged. Of the 34 stocks traded on ADX, 22 advanced, seven declined, and five remained flat.
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
SEPTEMBER 22, 2014
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