Dubai-Mubasher: Dubai Financial Market (DFM) closed at a decline for the eighth session in row on Tuesday, weighed by negative performance of the banks sector.
The main gauge lost 0.73% or 21.4 points to reach 2,920.83 points.
The UAE markets are likely to continue its downward trend amid the absence of catalysts, investors’ anxiety and lower oil prices, analysts told Mubasher.
Turnover declined to AED 487.14 million ($132.6 million) on Tuesday, compared to AED 587 million ($587 million) on Monday. Trading volume decreased to 349.18 million shares, compared to 353.64 million shares.
The real estate sector slid 1.2%, followed by the banks, telecom and investment sectors at 0.72%, 0.39% and 0.14%, respectively.
Emaar Properties was the top loser after falling 3.17%, followed by Dubai Islamic Bank and Emirates NBD at 1.24% and 0.14% in a row.
On the flipside, Arabtec Holding rose 4.06%, while Dubai Investments and Amalak Finance grew 0.53% and 2.42%, respectively.
