Dubai – Mubasher: The Dubai Financial Market (DFM) ended Wednesday’s trading session in the red, pressured by the anticipation of 2018 financial disclosures, especially Dubai Islamic Bank’s (DIB) financial results, which logged a net profit of AED 5 billion in 2018, up 11% from a year ago. DIB's results came below analysts' projections.
The general index went down 27.54 points, or 1.07%, ending the session at 2,538.56 points.
The DFM’s trading volume reached 90.60 million shares exchanged with a turnover of AED 156.79 million through 2,015 transactions.
The banks sector topped decliners, falling 2.28% on the back of DIB’s 4.37% drop, while the services sector plunged 1.74% as Amanat Holdings went down 2.73%.
Similarly, the insurance sector levelled down 1.11% due to Islamic Arab Insurance Company’s (SALAMA) 2.38% fall, while the investment sector decreased by 0.34% as DFM Company retreated 1.56%.
