By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index lost 0.55% or 15.06 to close at 2738.01 points on Wednesday, pressured by heavy-weighted stocks’ losses.
The real estate sector fell 1.5% after Arabtec Holding lost 3.7% to AED1.82 and Emaar Properties dipped 2.9% to AED 4.87.
The banks sector retreated 0.32% as Dubai Islamic Bank and Emirates NBD fell 0.58% and 0.11%, respectively.
The Insurance sector also dropped 0.24% after Takaful Al Emarat Insurance Co and Islamic Arab Insurance Co (Salama) levelled down 1.73% and 0.57%, respectively.
On the other hand, the investment sector jumped 1.29% as DFM Company gained 2.12% to AED 0.868 and Dubai Investment was up 1.28% to AED 1.58.
The services and consumer staples sectors rose by 0.8% and 0.5% respectively, boosted by the stocks of National Central Cooling Co. (Tabreed) and DXB Entertainments, which gained 1.68% and 0.56% consecutively.
A total of 149.39 million shares were exchanged through 2.068 transactions, with a total value of AED 141.12 million.
Raed Diab, deputy head of investment research at KAMCO, said that the DFM’s benchmark is still moving in red territory, confirming the importance of having fresh capital flows to be injected into the market to help revive it.
Translated by: Dunya Hassanin
