Dubai-Mubasher: Dubai Financial Market (DFM) saw a negative performance on Sunday to end the winning streak it witnessed for three sessions, amid profit-taking on Dubai Islamic Bank and Emaar Properties.
The DFMGI fell 0.5% or 16.02 points to reach 3,134.98 points.
The market saw reasonable profit-taking on leading stocks, said Mahmoud Abu Zeid, analyst at Nama Consulting.
Abu Zeid added that the market saw thin trading activity as investors, both buyers and sellers, continue to be cautious.
The insurance sector topped losers by 1.02% as Takaful Al Emarat Insurance Co and Amanat Holdings declined 7.3% and 4.9%, respectively.
The investment sector slid 0.7% after Al Salam Group Holding and DFM Company which levelled down 8.9% and 1.6%, respectively.
The real estate sector went down 0.63% as Emaar slumped 1.6%.
The banks sector retreated 0.6% due to a drop in Dubai Islamic Bank by 1.8%.
The service and transportation sectors gained 0.4% and 0.17%, respectively.
Abu Zeid added that the DFMGI sees resistance at the level of 3,100 points.
Turnover reached AED 246.43 million on Sunday, compared to AED 238.52 million on Thursday. Trading volume stood at 160.01 million shares, compared to 238.52 million shares.
Etisalat was the value leader after generating AED 11.38 million, while GFH was the most active company after trading 40.6 million shares.
The analyst noted that the market is likely to continue its downward trend as anxiety controlled traders amid low liquidity and anticipation for annual financial results.
