By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) closed Sunday’s trading session in the red.
The main index fell 0.99% or 33.10 points to reach 3,301.84 points, its lowest level since 29 June.
The market is moving sideways between 3,300 and 3,400 points, technical analyst Salam Saeed told Mubasher.
The transportation sector slid 2.09% as Air Arabia and Aramex went down 2.3% and 1.33% respectively.
The real estate sector went down 1.52% as Drake and Scull International (DSI), and Arabtec Holding fell 3.7% and 3.6% respectively.
The investment sector also retreated 1.35% after DFM Company levelled down 2.44%.
The banks sector sank 0.27% after Amlak Finance and Dubai Islamic Bank (DIB) tumbled 4.07% and 0.57% respectively.
The announcement of third-quarter financials will determine the market’s trend in the coming sessions, Saeed explained.
Trading volume reached 229.32 million shares on Sunday, compared to 105.79 million shares last Thursday. Turnover stood at AED 261.99 million, compared to AED 162.4 million.
Traders should not enter the market and wait till the third-quarter financial results end, Saeed noted.
Translated by: Julian Nabil
