Dubai – Mubasher: Dubai Financial Market (DFM) was down on Tuesday, continuing a drop to the second successive day, pressured by real estate stocks mainly Arabtec, amid lacklustre traded value.
The main index lost 1.4% or 45 points to close at 3,209.2 points; yet keeping its position above the 3,200 mark.
Tuesday’s turnover fell to AED 209 million ($57 million), from AED 251.78 million ($68.55 million) on Monday.
Traded volume also decreased to 169.2 million shares, from 225.44 million shares.
The real estate sector was the biggest drag, with a fall of 1.89%, weighed by Arabtec and Emaar that lost 4.3% and 3.09%, in a row.
Arabtec, the biggest construction company in the United Arab Emirates, earlier today appointed Saeed Al-Mehairbi as a new acting CEO in place of Mohamed Al-Fahim.
The banks sector was off by 1.36%, dragged by DIB and Emirates NBD that shed 0.5% and 2.24%, respectively.
The investment sector sagged by 1.3%, as Dubai Investments and DFM Company went down by 0.97% and 1.74%, in a row.
The telecom sector tailed the list of decliners, inching lower by 0.4%, after du stock saw the same decline to AED 5.020.
On the positive front, the consumer staples and services sectors were in green, backed by Dubai Parks and Tabreed. Meanwhile, the industrial sector remained unchanged.
