Dubai-Mubasher: Dubai Financial Market (DFM) widened its losses by Wednesday’s midday trade, as selling pressures built up over the stocks of Emaar Properties and Dubai Islamic Bank.
At 12:30p.m UAE time, the benchmark went down 1.02% or 32.24 points to reach the level of 3,114084 points.
In today's early trade, the benchmark eased 0.85% on the declines of Emaar Properties and Dubai Islamic Bank.
Market analysts told Mubasher in an earlier statement that UAE markets are likely to see reasonable profit taking on Wednesday, especially over the stocks that surged significantly recently, before the upcoming holiday.
UAE's financial markets will officially close on Thursday on occasion of Prophet Mohammed's birthday for the year 1437 Hijri.
The transport sector resumed its declines after losing 2.03%, while the sectors of investment, real estate and banks went down by 1.9%, 1.53% and 0.12%, respectively.
On a positive note, the sector of telecommunication added 0.2%, while the industrial sector remained stable.
A total of 372.87 million shares were traded in 4,530 transactions at a turnover of AED 326.7 million.
