By: Mahmoud Gamal
Dubai-Mubasher: Dubai Financial Market (DFM) saw a bearish performance on Wednesday, weighed by profit-taking on the banks, investment and real estate sectors, analysts told Mubasher.
The general index fell 1.6% or 56.3 points to reach 3,506.9 points.
Turnover stood at AED 606.26 million on Wednesday, compared to AED 492.98 million.
Trading volume reached 391.99 million shares, compared to 306.01 million shares.
The market was weighed by profit-taking on blue chips, in addition to gulf investors’ anticipation of the Federal Reserve's policy meeting, capital market analyst Mohammed Al Shammari said.
Investors is waitin for the meeting’s outcome regarding interest rates.
The banks sector decreased 2.5% as Dubai Islamic Bank (DIB) slid 3.5%.
The investment sector retreated 1.6% due to a decline on DFM Company by 1.9%.
The telecom sector went down 1.53% as du lost 1.53%.
The real estate sector declined 1.24% after Emaar Properties and Emaar Malls Group levelled down 1.7% and 1.67% in a row.
