By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a bearish performance on Tuesday, weighed down by selling pressures on some blue chips led by Arabtec Holding and Dubai Islamic Bank (DIB).
The main index sank 0.11% or 3.95 points to stand at 3,436.63 points.
The market was pressured down by investors’ tendency to speculate and reduce positions in some blue chip stocks, capital market analyst Mohamed Al Azmi said.
The consumer staples sector led losers with a 1.6% decline after Marka retreated 6.4%. The banks sector also fell 0.93% as DIB tumbled 0.86%.
Investors’ anxiety returned over the remaining first-quarter financial results which are late, Al Azmi noted.
Arabtec Holding was the most prominent blue chip which suffered losses after decreasing 1.76%.
The market is witnessing accumulation by some portfolio investors to make use of the low-priced stocks, Al Azmi noted.
The investment sector added 1.62% as Dubai Investments increased 1.9%.
The real estate sector grew 0.12% due to a rise in Emaar Properties by 1.22%.
Translated by: Julian Nabil
