DAX Gains 1.26% Upside After A Rally In German Stocks
By the end of Friday's trading session, most of the German stocks were positive, which also pushed the DAX index higher. The sectors which contributed to the most gains were financial, technology, consumer, and services!
The DAX index gained 1.26% on Friday, while the MDAX was up by 1.53%. Similarly, the TecDAX index, which only represents the tech companies of DAX, was up by 1.86%.
Technology Sector Supported The DAX Index
Overall, the company which performed the best on Friday was Sartorious (SATG_p), as it gained 4.41%. On the other hand, Infineon Technologies also gained 3.14% (1.15 points), along with Siemens Energy AG gaining 3.06%.
On the contrary, RWE AG only gained 0.13%, which is around 0.05 points. Similarly, the Deutsche Telekom AG also added 0.23% to its stock value, while the Bayer AG was up by 0.34%.
In the MDAX index, the top performers were Kion Group AG, SMA Solar Technology AG, and Jungheinrich AG. The Kioin Group AG stock jumped 6.78%, while the SMA Solar Technology gained 5.57% upside. Similarly, Jungheinrich AG was up by 4.94% and closed near 33.54.
But that's not to say that all German stocks were up on Friday! The most prominent one was Prosiebensat 1 Media which shed 1.57% of its stock value and closed at 8.54. Another stock called Fraport AG also lost around 1.57% of its value and closed near 48.86.
SMA Solar Technology Gained 5.57%
Overall, SMA Solar Technology AG remained the top performer as it gained 5.57%, followed by Sartorius AG, which was up by 4.41%. The company which secured the 3rd spot was Nagarro SE, as it was up by 3.77%.
But when compared with the number of rising and declining stocks, those which gained the upside were higher! This allowed the DAX index to end the day on a positive note.
Now that the weekend holidays are here, it would be interesting to see whether the DAX keeps up the positive momentum during Monday's session or not.