By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) maintained its negative performance in the week ended 13 October, weighed down by the fall of all sectors led by the real estate.
The main index slid 0.6% or 19.69 points to reach 3,334.94 points.
Trading volume reached 740.49 million shares this week, compared to 615.32 million shares last week. Turnover stood at AED 1.06 billion, compared to AED 989.23 million.
The real estate sector fell 1.45% as Union Properties, Emaar Properties and Arabtec Holding retreated 2.9%, 2.3% and 0.7% respectively.
The banks sector slid 0.2% after Emirates NBD sank 0.7%.
The UAE bourse were negatively affected by volatile global markets this week, according to Jamal Ajaj, director of Al Sharhan Shares Centre in Abu Dhabi.
The markets may rebound as investors tended to liquidate and exit blue chips, which reached their support levels, especially in the real estate sectors, the analyst explained.
The transportation sector levelled down 0.06% as Aramex slid 0.26%.
On the other hand, the investment sector rose as DFM Company gained 0.82%.
The markets are likely to continue their fluctuations till major companies start to announce their third-quarter profits, Ajaj noted.
Translated by: Julian Nabil
