By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Sunday, weighed down by profit-taking and caution over Qatar’s rift with neighbouring countries.
The general index fell 0.36% or 12.15 points to reach 3,387.95 points.
The DFM saw increased sales due to investors’ anxiety following the fluctuations of neighbouring markets, analyst Gamal Saad told Mubasher.
The main index is likely to decline to 3,350 points amid increased sales by portfolio investors, Saad added.
The investment sector retreated 0.5% as SHUAA Capital and DFM Company levelled down 2.65% and 1.7%, respectively.
The banks sector declined 0.48% as GFH Financial Group and Dubai Islamic Bank (DIB) declined 1.3% and 0.8%, respectively.
The transportation sector fell 0.37% after Gulf Navigation Holding levelled down 2.04%.
On the flipside, the insurance and consumer goods sectors rose 0.53% and 0.24% as AMAN and Marka went up 1.3% and 1.2%, respectively.
Trading volume reached 276.52 million shares on Sunday, compared to 565.53 million shares last Thursday. Turnover amounted to AED 268.92 million, compared to AED 486.08 million.
The market will not rise until the general index stabilises above 3,420 points, Saad noted.
Translated by: Julian Nabil
