By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) maintained its early losses at Thursday’s close.
The DFMGI fell 0.6% or 19.9 points to reach 3,334.94 points.
The banks sector topped losers with a 0.89% decline as Mashreq Bank and Dubai Islamic Bank (DIB) slid 5.7% and 0.7% respectively.
The market fell as investors continue to decrease positions in blue chips especially in the banks and real estate sectors, negatively affected by fall of most global stocks and oil markets, as well as anxiety over third-quarter financial announcements, according to UAE markets analyst Mohammed Al Hosni.
On the other hand, the investment sector topped gainers with a 0.64% rise as DFM Company went up 1.65%. The transportation sector increased 0.09% as Gulf Navigation Holding climbed 1.8%.
Trading volume reached 105.79 million shares on Thursday, compared to 197.67 million shares on Wednesday. Turnover stood at AED 162.4 million, compared to AED 246.63 million.
Dubai bourse is expected to maintain its decline in the coming sessions, Al Hosni said, adding that traders should not increase their positions until the main index break above 3,420 points.
Translated by: Julian Nabil
