By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Monday, weighed down by profit-taking
The general index fell 0.27% or 9.3 points to reach 3,407.75 points.
Dubai bourse saw a volatile performance in Monday’s trading session, affected by "significant" profit-taking on blue chips, especially Dubai Islamic Bank (DIB), Arabtec Holding and Emaar Properties, market analyst Mohamed Al-Azmi told Mubasher.
The performance of global markets were affected by the results of Italy referendum, pushing traders to be cautious, the analyst said.
The banks sector topped losers after falling 0.74% as Dubai Islamic Bank (DIB) tumbled 1.85%. The real estate sector also levelled down 0.5% as Union Properties (UP), Arabtec Holding and Emaar Properties decreased 2%, 0.75% and 0.75% respectively.
Stability of the main index above 3,400 points is a good technical signal, backed by purchases of small and mid caps by some institutional investors, Al-Azmi said.
On the flipside, the investment sector was the best performer with a 1.45% growth as SHUAA Capital and Dubai Investments went up 9.29% and 0.88% respectively.
Trading volume reached 666.35 million shares on Monday, compared to 1.048 billion shares on Sunday. Turnover stood at AED 804.90 million, compared to AED 1.33 billion.
Translated by: Julian Nabil
