Dubai – Mubasher: The general index of the Dubai Financial Market (DFM) closed Thursday’s trading session on a negative note as the new coronavirus (COVID-19) continues to take its toll on the global markets.
The DFM’s general index lost 175.83 points or 7.96% to end the session at 2,032.12 points, extending its losing streak from Wednesday.
A total of 279.87 million shares were exchanged at a turnover of AED 427.86 million through 4,493 transactions.
The market cap value plunged by AED 18.36 billion to AED 296.53 billion on Thursday from AED 314.89 billion in the previous session.
The real estate, banks, and consumer goods sectors declined by 8.95%, 8.08%, and 7.23%, respectively.
Al Madina for Finance and Investment, also listed on Boursa Kuwait, headed the fallers after sliding by 10%, while Gulf Navigation Holding topped the gainers and advanced by 5.28%.
Meanwhile, Air Arabia led the market with a trading volume of 53.41 million shares, while Dubai Islamic Bank was the most active in terms of turnover after generating AED 162.76 million in liquidity.
In addition, the blue-chip stocks of Emirates NBD, Arabtec Holding, Emaar Properties, Damac Properties, Dubai Islamic Bank, DXB Entertainments, and Dubai Investments declined by 10%, 9.90%, 9.79%, 8.98%, 8.21%, 7.87%, and 4.24%, in that order.
