Aramex was a rare bright spot in an otherwise sluggish afternoon of trading, as most traders sold their positions in property and banking stocks and attempted to diversify their portfolios.
Shares in the logistics courier rose nearly 2 per cent to Dh2.04 on Dubai's main bourse. Earlier this week, it announced strategic acquisitions and partnerships in Turkey, Malaysia, Bangladesh and Vietnam.
"Everyone is buying into Aramex because of the acquisition news and [because] people are trying to diversify," said Samer Al Jaouni, general manager at Middle East Financial Broker. He said traders were looking at firms like Aramex to expand their portfolio.
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