By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index lost 1.11% to 2,836.01 points on Tuesday, its lowest level in 27 months.
The DFM has been maintaining its negative performance since mid-June, amid lack of market-boosting incentives, foreign investments, and liquidity, vice president of Investment Research at KAMCO Raed Diab told Mubasher.
A new problem has been arisen in the market, as Abraaj, in which many listed companies invest, faced a money misusage allegations and filed for liquidation.
There is no positive sign regarding the market’s performance on the horizon, but we may see a temporal recovery, not a fundamental change, Diab added.
The consumer staples sector tumbled 4.1%, while the services sector went down 2.4%.
The investment sector declined 0.91%, as Dubai Investments lost 2.07% to AED 1.89 and DFM Company went down 2.04%.
The real estate sector decreased by 1.6%, as Arabtec Holding dropped 5.45% and Damac Properties sank 2.23%.
The telecommunication sector and its only stock, du, fell 0.61% each.
Translated by: Muhammad Khalid
