By: Thabet Shehata
Dubai-Mubasher: Dubai Financial Market (DFM) closed Sunday with the biggest one-day losses in five months, amid the decline of all sectors after the fall of oil prices.
The main gauge closed at 2,648.92 points, falling 130.53 points or 4.64%; the biggest decline since late August.
Gulf markets will likely continue the downward trend they witnessed last week due to lower oil prices, said capital market analyst Ibrahim Al-Failakawi.
Turnover reached AED 457.65 million ($125.68 million) on Sunday, compared to AED 493.47 million ($134.3 million) on Thursday. Trading volume stood at 401.8 million shares, compared to 405.26 million.
Market capitalisation amounted to AED 272.02 billion ($74.7 billion), compared to AED 281.266 billion ($76.57 billion).
The investment sector lost 8.56%, weighed by Dubai Investments and DFM Company which dropped 9.55% and 4.72%, respectively.
The real estate sector levelled down 5.65% after Arabtec Holding and Emaar Properties slid 9.57% and 3.93% in a row.
The banks sector decreased 3.13% as Dubai Islamic Bank and Emirates NBD went down 4.24% and 5.3%, respectively.
The telecom sector sank 0.79% after du lost 0.79% to AED 5.02.
Translated by: Julian Nabil
