Dubai – Mubasher: Dubai Financial Market (DFM) shut Monday’s session in red, continuing the losing run to the seventh successive day, as it was dragged lower by banking stocks as well as property firm Emaar. Meanwhile, the market losses were trimmed by Arabtec that shut in green.
The main index lost 0.73% or 21.55 points to close at 2,942.24 points, thus remaining below the 3,000 mark.
According to analysts, UAE equities reached attractive price levels following the recent declines.
Monday’s traded value rose remarkably to around AED 587 million ($159.8 million), from AED 176.4 million ($48 million) on Sunday. Traded volume also increased to 353.64 million shares from 163.5 million shares.
The banks sector was the biggest drag, upon falling 1.53%, while the real estate sector lost 0.61%. The investment sector topped gainers, with a rise of 0.57%, and telecoms gained 0.39%.
Emirates NBD led losers, with a decline of 2.82%, followed by DIB (-1.74%) and Emaar (-1.56%).
Home builder Arabtec was the best performer, with 6.03% growth, while DFM Company and Dubai Investments rose by 0.9% and 0.54% respectively.
Emaar was the top active in terms of traded value, as it dominated AED 247.4 million or 42% of the market’s total traded value. Meanwhile, Arabtec recorded the biggest traded volume reaching 123 million shares, or 34.75% of total volume.
Translated by Sayed Abdel Rahman
