DFM range-bound in mid-session

Trading on Dubai Financial Market (DFM) opened negative and turned otherwise in mid-session and remained range-bound on Monday.

All sectors except banking, insurance and utilities were pushing the market up.

At 12.15pm, the benchmark index was 1,708.52, up 5.81 points or 0.34 per cent, from its previous close.
Stocks that were trading up included Hits Telecon, Aramex, Gulf General Investment Company (GGICO), Gulf Navigation, Du, among others.

Shares of Emaar, having the highest weighting on the index, were up half a percentage point at Dh3.73. DP World and DFM were also trading up. However, shares of some major property and construction firms such as Arabte and Union Properties were trading low until the mid-session.

Investors look cautious and seem to be looking for direction on the back of mixed performance of Asia-Pacific stock indices.

Major indices like Shanghai Composite, Hang Seng, are trading low, while Nikkei 225, BSE 30, Straits Times, and Seoul Composite are up as per the latest data.

Abu Dhabi Securities Exchange (ADX) was marginally up by 8.05 points at 2,750.57 at 12.29pm.