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FINANCIAL NEWS
Dubai Financial Market trade volume reaches USD86.56m
24 Mar 2015
(MENAFN) The Dubai Financial Market (DFM) recorded a trade volume of USD86.56 million after a 1.37 percent drop due to Arabtec’s 10 percent slump, Gulf News reported.
Index of DFM increased by 2.21 percent, hitting 3,501.33. On the other hand, the Abu Dhabi Securities Exchange (ADX) general index increased by 1.34 percent, soaring to 4,381.17.
Arabtec topped the market just one day after disclosing a slump in net profit for 2014. Arabtec accounted for 28.5 percent of total value traded from within the market.
“We’re coming off quite a negative period over the last week or two, so valuations are quite attractive at the levels we’re in,” the head of equities at the National Bank of Abu Dhabi’s asset management said in a statement.
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