By: Mahmoud Gamal
Dubai – Mubasher: The main index of the Dubai Financial Market (DFM) shed 0.19% or 6.22 points to stand at 3,196.62 points at the end of Tuesday.
Raed Diab, vice president at KAMCO Investment Co., expected that closing below the support level of 3,200 would lead to more weakness in the coming period towards 3,100 points.
He added that if the index was able to go upward in the coming sessions, it would be pushed to the momentum once again above the resistance level of 3,220 points and would encourage investors towards more purchases.
The telecom sector led the worst performers and fell 1.87%, affected by Emirates Integrated Telecommunications Company (du) which lost the same percentage.
The banks sector also shed 0.5%, on the back of Dubai Islamic Bank (DIB) which went down 0.4%.
The real estate sector slipped 0.2%, weighted by Damac Properties Dubai Co. and Emaar Properties which levelled down 0.49% and 0.47%, respectively.
On the other hand, the goods sector topped the best performers and added 2.62%, backed by DXB Entertainments which increased the same percentage.
Turnover rose to AED 780.10 million on Tuesday from AED 721.53 million on Monday, while traded volume increased to 604.99 million shares, compared to 547.16 million shares yesterday.
Translated by: Sara Ghali
