Dubai – Mubasher: The Dubai Financial Market (DFM) closed Sunday lower, as investors remain cautious after global markets and oil prices dropped last week. Emaar and Properties and Dubai Investments were among the market’s gainers, however.
The decline comes in spite of the announcement of several government decisions including the introduction of a new long-term visa system.
The general index shed 0.56% or 15.52 points to close at 2,739.38 points.
Turnover amounted to AED 67.36 million down from AED 88.28 million on Thursday, while volumes retreated to 55.60 million shares exchanged against 79.37 million.
The services sector dropped 2.14% after Amanat lost 0.9%, while the insurance sector sank 1.93% after Salama tumbled 3.97%.
The consumer staples sector decreased 1.65% after DXB declined 1.84%, while the banks sector shed 0.83%, weighed by Emirates NBD’s 1.1% drop.
The telecom sector and its stock du were down 0.59% each, while the real estate and transport sector ended in the red, after DAMAC Properties, Arabtec Holding, and Air Arabia lost 4.33%, 1.76%, and 0.96%, respectively.
On the other hand, Dubai Investments grew 0.69%, while Emaar Properties gained 0.63%.
