By: Mahmoud Gamal
Dubai – Mubasher: The main index of the Dubai Financial Market (DFM) shed 0.15% or 4.87 points to stand at 3,274.06 points at the end of Thursday’s session.
A state of worry and concern spread while anticipating the leading stocks’ financial results, after some announcements came up below the estimates, which increased the sales on the shares, despite the enhancement in global markets on Thursday, Mohammed Al Shammari, technical analyst, said.
The analyst added that the fluctuation between the levels of 3,325 – 3,200 points exposes the index to a decline.
The telecommunication sector led the red zone decreasing 0.85%, after Emirates Integrated Telecommunications (DU) went down by the same percentage.
The real estate sector also lost 0.76%, on the back of Emaar Malls and Emaar Properties which levelled down 2.31% and 1.03%, respectively.
The banks sector shed 0.62%, affected by Dubai Islamic Bank (DIB) which decreased 0.8%.
On the other hand, the investment sector was the most prominent gainer advancing 2.18%, backed by Dubai Investment which added 1.01%.
The transport sector also went up 0.95%, supported by Air Arabia which increased 0.8%.
Traded value rose to AED 1.34 billion, achieving the most active liquidity in five months, compared to AED 945 million on Wednesday.
Traded volume also hiked to 1.05 billion shares from 701.91 million shares yesterday.
Al Shammari noted that the investors’ confidence began to increase amid the existence of some stocks’ prices at good purchasing levels and estimates for the index to go up again to the level of 3,300 points.
Translated by: Sara Ghali
