By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Thursday, due to profit-taking on blue chips.
The general index fell 0.17% or 5.91 points to reach 3,400.10 points.
Dubai’s bourse saw a volatile trading session due to profit-taking on investment and banks stocks, technical analyst Mohamed Ismail told Mubasher.
The investment sector was the top loser after falling 1.26% as Dubai Investments retreated 1.86%. The banks sector went down 0.09% as GFH Financial Group declined 0.88%.
The real estate sector retreated 0.09% as Arabtec Holding and Emaar Properties declined 0.65% and 0.26%, respectively.
Some portfolio investors tended to decrease their positions on blue chips, Ismail noted.
On the other hand, the transportation sector went up 0.8% as Aramex increased 1.4%.
Trading volume reached 565.53 million shares on Thursday, compared to 418.92 million shares on Wednesday. Turnover amounted to AED 486.08 million, compared to AED 807.73 million.
The decline of the main index below 3,400 points may increase the possibility that the market will fall in the coming sessions, Ismail said.
Translated by: Julian Nabil
