By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Thursday, weighed down by profit-taking on blue chips.
The DFMGI fell 0.82% or 29.9 points to reach 3,623.75 points.
Dubai’s bourse is witnessing fluctuations on Thursday, following profit-taking on Emaar Properties and Arabtec Holding, capital market analyst Mohamed Ismail said.
The real estate sector topped losers with a 1.13% decline as Emaar and Arabtec tumbled 2.42% and 0.74% respectively.
Some portfolio investors tended to decrease their positions in blue chips and some small-cap stocks of the firms which will announce their annual results next week, the analyst explained.
The banks sector declined 0.6% as Emirates NBD retreated 0.6%.
Trading volume reached 690.88 million shares on Thursday, compared to 629.8 million shares on Wednesday. Turnover amounted to AED 1.044 billion, compared to AED 1.3596 billion.
Traders should focus on operational stocks of the companies which are expected to distribute rewarding annual dividends in the coming period, Ismail added.
Translated by: Julian Nabil
