(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.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.