By: Mahmoud Gamal
Dubai – Mubasher: The benchmark index of the Dubai Financial Market (DFM) declined by 1.6% or 51.53 points to 3,157.45 points by the week ended on 8 March.
The DFM was negatively impacted during this week with the fall of the real estate sector, led by Emaar.
The UAE stock markets witnessed a state of decline this week, dragged down by blue chips, namely Emaar Properties, financial analyst at Mena Corp Financial Services Issam Kassabieh told Mubasher.
The DFM is awaiting new catalysts to direct the market in a positive way in line with the drop in prices to the lowest level in over two years.
Dubai Investments was included in the losers this week with a fall of 1.8% to AED 2.17. Similarly, Arabtec and Dubai Islamic Bank which lost 2.9% and 0.5%, respectively.
GFH, the recently listed stock on the DFM, gained 5.7% to AED 1.48 after strong trades. Meanwhile, Ithmaar lost 4.3% to AED 0.44.
During the week, liquidity shrank to AED 831.4 million from AED 918.16 million in the previous week after the trading volume increased to 558.41 million shares from 442.8 million.
