Dubai – Mubasher: The Dubai Financial Market (DFM) ended the first week of March on a negative note for the second week in a row amid growing concerns over the outbreak of the new coronavirus (COVID-19).
The DFM's general index slid by 129.46 points or 4.9% to close the week ended 5 March at 2,460.54 points.
Market cap shed AED 13.32 billion ($3.63 billion) to AED 351.56 billion last week, compared to AED 364.88 billion the week before.
The banks sector declined by 4.1% over the week, while the investment and real estate sectors went down by 4.5% and 5.3%, respectively.
The real estate stocks led the decliners as Emaar Properties, Arabtec, and Damac Properties Dubai slid by 6%, 5.6%, and 9.4%, in that order.
Meanwhile, leading stocks Dubai Islamic Bank, Emirates NBD, Dubai Investments, and Shuaa Capital retreated 1.7%, 8.7%, 3.1%, and 1.9%, respectively,
