Dubai – Mubasher: The Dubai Financial Market (DFM) closed Wednesday in the red after losing 14.47 points, or 0.54%, to 2,685.13 points, dragged down by selling pressures on blue-chip stocks.
The consumer staples sector fell 2.66% as DXB Entertainments’ stock declined 3% to AED 0.291.
The insurance sector dropped 1.7% after the stocks of Dar Al Takaful, Dubai Islamic Insurance and Reinsurance Company (AMAN), and Islamic Arab Insurance Co. “Salama” went down 3.73%, 3.68%, and 3.29%, respectively.
The transportation sector inched down 0.96% as Aramex’s stock dipped 2.33% to AED 4.2.
The investment and financial services sector shed 0.88% after the stocks of DFM Company and Dubai Investments decreased.
The real estate sector edged down 0.85% as Damac Properties’ stock fell 3.48%, followed by Deyaar Development’s stock with 2%, Emaar Malls with 1.06%, and Arabtec Holding with 0.96%.
The banks sector levelled down 0.27% as Dubai Islamic Bank’s (DIB) stock lost 0.57% to finish at AED 5.27.
The DFM’s trading volume soared to 359.57 million shares on Wednesday, from 134.54 million in the session before, while liquidity rose to AED 298.52 million, against AED 179.10 million.
Union Properties’ stock, which closed at AED 0.539, was the most active in terms of volume and value after 234.17 million shares were exchanged, generating a turnover of AED 126.24 million.
