The past 4 days the DFMGI
has been consolidating in a narrow range just at support of the 100-day exponential moving average.
The expected increase in liquidity can be confirmed from the relatively high trading volume observed in both the DFMGI
and ADSMI indices of 717 million and 543 million, respectively, on May 29, 2014," explained Elliot Carol, portfolio strategist at Dalma Capital.
If the recent peak is exceeded then the DFMGI
would be heading towards 5,775, followed by 5,897.
The three-month annualised volatility for the DFMGI
is above 50 per cent and is the highest in the last four years.
From the highs seen on May 14 this year, however, DIB has lost around 16 per cent of its value along with the broader the DFMGI
selling off over the same period," he said.
is based on the total market capitalisation adjusted by the Free Float.
The benchmark Dubai Financial Market index, or DFMGI
, fell 1.
Markets didn't breach the level of 4,150 on Sunday, so we could see further weakness on DFMGI
," Manibhandu said.
Summary: DUBAI - Bank earnings helped Abu Dhabi's stock index rise on Thursday as the benchmark posted its largest monthly gain in over five years, while Dubai's DFMGI
hit a fresh 37-month high.
Despite the positive nudge at the beginning of the week, dividend gaps of heavyweight stocks have sent both DFMGI
and ADX to lower levels throughout the remainder of the week.
The Dubai Financial Market's General Index, or DFMGI
, made its largest gains in more than two years as investors showed interest in property shares.
Summary: DUBAI - Arabtec stocks on Monday made its largest gains in nearly two years to reach a 27-month closing high, dominating trade on the Dubai Financial MArket's General Index, or DFMGI