By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Sunday, backed by profit-taking on blue chips led by Damac Properties and Dubai Investments.
The general index fell 0.25% or 9.18 points to reach 3,665.94 points.
The market saw a sideways performance due to profit-taking on blue chips, technical analyst Mohamed Ismail said.
The investment sector led losers with a 0.87% decline as SHUAA Capital and DFM Company slid 2.3% and 0.81%, respectively.
The transportation sector levelled down 0.60% after Air Arabia tumbled 0.9%.
The banks sector fell 0.10% after Dubai Islamic Bank (DIB) retreated 0.16%. The real estate sector sank 0.09% as Damac Properties went down 1.5%.
Some investment institutions started to increase their purchases of blue chips, pushing Arabtec Holding and Emaar Properties, Ismail noted.
Arabtec topped gainers with a 2.6% increase, while Emaar rose 0.5%.
Turnover amounted to AED 202.6 million on Sunday, compared to AED 341.09 million last Thursday. Trading volume reached 118.6 million shares, compared to 202.21 million shares.
Investors are still cautious as some companies did not announce their first-half financial results until now, Ismail said.
Traders should focus on operational stocks which reached attractive levels, Ismail noted.
Translated by: Julian Nabil
