Dubai – Mubasher: The Dubai Financial Market (DFM) finished the week ended 29 November in decline after dropping 86.25 points, or 3.13%, to 2,668.66 points, logging its sharpest weekly loss in four months.
The DFM’s market capitalisation tumbled AED 8.5 billion, reaching AED 355.649 billion, compared to AED 364.131 billion a week before.
Trading volume reached 305.259 million shares, down from 333.954 million a week earlier, while liquidity fell to AED 413.577 million, against AED 445.934 million.
The weekly decline was attributed to selling pressures on blue-chip stocks.
The consumer staples sector was the worst over the week after plunging 13.9%, pushed down by the stock of DXB Entertainments which dropped 11.01% to AED 0.291.
The real estate sector slid 5.81% as Union Properties, Arabtec Holding, and Emaar Properties stocks’ tumbled 8.87%, 11.5%, and 5.66%, respectively.
The telecommunication sector and its only stock Du went down 1.4%, each, while the banks sector decreased 0.57% as Dubai Islamic Bank’s (DIB) stock lost 1.87%.
