By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance in the week which ended on 9 March 2017, dragged down by the fall of banks and real estate stocks.
The general index fell 1.77% or 63.5 points to reach 3,520.17 points.
The investment sector was the worst performer after declining 3.7% as SHUAA Capital and DFM Company retreated 4.12% and 3.57%, respectively.
The real estate sector levelled down 2.84% as Emaar Properties and Union Properties sank 3.68% and 4.33%, respectively.
The banks sector slid 1.44% after Dubai Islamic Bank (DIB) and GFH Financial Group tumbled 2.68% and 3.09%, respectively.
The UAE markets witnessed increased pressure after some companies began announcing dividend payouts, according to Jamal Ajaj, director of Al Sharhan Shares Centre in Abu Dhabi.
Turnover amounted to AED 1.9 billion this week, compared to AED 1.94 billion last week. Trading volume reached 1.21 billion shares, compared to 1.2 billion shares.
The markets will maintain their current performance next week until investors receive their cash dividends, Ajaj noted.
Translated by: Julian Nabil
