By: Mahmoud Gamal
Dubai-Mubasher: Dubai-listed Arabtec Holding’s stock fell to its lowest level since mid-January 2015 in Tuesday’s mid-session.
The stock declined 2.86% or AED 1.02 to reach AED 0.030 by 11:50 a.m. UAE time.
Turnover on the stock reached AED 18.02 million, accounting for 9.6% of the market’s liquidity which stands at to AED 188.24 million.
The company saw trading of 17.60 million shares through 339 transactions.
Arabtec stock’s decline came in line with a negative performance delivered by all shares as a result of weaker regional markets which are pressured by growing worries from falling oil prices and speculations on possible interest rate rise, according to capital market expert Ibrahim Al-Failakawi.
Al-Failakawi added that the stock will go down to AED 0.75 and AED 0.5 respectively if it did not rebound and stabilise above the level of AED 2.
Translated by: Julian Nabil
