By: Mahmoud Gamal
Mubasher: The benchmark index of the Dubai Financial Market (DFM) ended Sunday’s trading session 0.32% or 11.39 points lower at 3,554.96 points, impacted by selling transactions on blue chips, namely Arabtec.
Investors partially sold leading shares, which are facing financial struggles like Arabtec, in line with the disclosure of the first-quarter financial statements, capital market analyst Ahmed Ismail said.
He noted that the main index of the DFM needs to exit the current negative trend to break the 3,580-point level.
The transportation segment led decliners with 1.84%, dragged by Gulf Navigation and Aramex which lost 3.3% and 2.3%, respectively.
The real estate sector retreated by 0.21%, in line with the 0.85% decline of Arabtec.
Meanwhile, the banks segment levelled up 0.16% on the back of DIB which gained 0.2%.
DFM’s turnover decreased to AED 241.94 million from AED 313.9 million in the previous session, as trading volume shrank to 186.53 million shares from 266.6 million.
DFM’s volatile performance is expected to continue in Monday’s session, the analyst said.
