By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Monday, weighed down by the fall of blue chips.
The general index declined 0.72% or 24.04 points to reach 3,317.50 points.
Investors tended to make purchases after the UAE and other GCC countries cut their ties with Qatar, capital market analyst Mahmoud Diab said.
The consumer staples sector decreased 2.24% as DXB Entertainments slid 2.33%. The transportation sector also levelled down 1.73% after Aramex tumbled 2.76%.
The investment sector retreated 1.41% due to a decline in SHUAA Capital by 5.3%.
The banks sector sank 0.5% after Dubai Islamic Bank (DIB) decreased 0.2%.
Trading volume reached 446.13 million shares on Monday, compared to 271.83 million shares on Sunday. Turnover amounted to AED 508.19 million, compared to AED 251.96 million.
The main index needs to break its resistance at 3,450-3,470 points, Diab added.
Translated by: Julian Nabi
