By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) reversed its early positive performance on Sunday, weighed down by selling pressures on leading sectors.
The main index lost 0.95% or 35.30 points to reach 3,666.16 points.
The UAE markets saw profit-taking after the rise of blue chips in the past sessions, technical analyst Mohamed Al-Azmi said.
The investment sector sank 3.3% after SHUAA Capital, Dubai Investments and Al Salam Group Holding slid 9.8%, 3.15% and 2% respectively.
The real estate sector fell 1.16% as Arabtec Holding declined 2.9%. The banks sector levelled down 0.72% as Dubai Islamic Bank (DIB) lost 1.13%.
On the other hand, the transportation sector added 0.8% after Air Arabia increased 0.71%.
Trading volume reached 500.89 million shares on Sunday, compared to 855.74 million shares last Thursday. Turnover amounted to AED 773.22 million, compared to AED 1.48 billion.
Some UAE and foreign small-sized stocks saw active trading like Al Mazaya Holding, Al Madina for Finance and Investment and Al Salam Bank, Al-Azmi added.
Portfolio investors are likely to continue increasing their positions in small- and mid-cap stocks in the coming weeks, the analyst noted.
Translated by: Julian Nabil
