By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Tuesday, weighed down by profit-taking on blue chips, analysts told Mubasher.
The general index declined 0.28% or 9.43 points to reach 3,415.26 points.
The market’s trades were controlled by speculators amid the existence of real catalysts, according to Wadah Al Taha, member of the National Advisory Board of Chartered Institute for Securities & Investments (CISI).
The market saw a sideways performance due to significant profit-taking, financial analyst Nawaf Al Mallouhi said.
The investment sector led losers with a 0.72% decline as Dubai Investments went down 1.42%. The banks sector also retreated 0.53% after Dubai Islamic Bank (DIB) slid 1.6%.
The real estate sector sank 0.06% after Emaar Properties went down 1.3%.
Arabtec Holding rose 10.6%, while Amlak Finance and SHUAA Capital added 2.65% and 1.6%, respectively.
Trading volume reached 272.49 million shares on Tuesday, compared to 258.33 million shares on Monday. Turnover amounted to AED 485.25 million, compared to AED 442.32 million.
Translated by: Julian Nabil
