By Mahmoud Gamal
Dubai – Mubasher: Dubai Financial Market slipped on Wednesday, amid selling pressures from major sectors.
The benchmark index shed 0.31% or 9.76 points to close at 3,137.32 points.
Leading stocks drifted lower to snap a two-day winning run after they saw ‘rapid’ profit taking, said Amir Al Mansour, capital market analyst.
He added that UAE equities continue to lack fresh catalysts, and are thus more susceptible to impact from speculations in local markets and volatility in global markets and oil prices.
The transport sector was the biggest loser with a fall of 1.09%, after Aramex and Air Arabia shed 1.6% and 0.76% in a row.
The real estate sector lost 0.73% pressured by Emaar that rose by 1.38%, while Arabtec shut 2.48% higher.
Meanwhile, the banks sector rose 0.21% backed by DIB and Emirates NBD that gained 0.5% and 1.1% respectively.
The telecoms and investment sector advanced by 0.2% and 0.14% in a row, after du and Dubai Investments moved higher.
Wednesday’s traded volume rose slightly to 560 million shares from 557 million shares. Traded value decreased to AED 489.1 million ($133.16 million) from AED 592 million ($161.2 million).
Translated by Sayed Abdel Rahman
