By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Thursday, weighed down by the fall of Emaar Properties and Dubai Islamic Bank (DIB), as its early losses widened at close.
The DFMGI fell 0.38% or 13.3 points to reach 3,461.43 points.
The transportation sector led losers with a 0.55% decline as Aramex decreased 0.99%. The real estate sector also sank 0.99% after Emaar Properties tumbled 1.09%.
The investment sector levelled down 0.41% as DFM Company and Dubai Investments slid 0.79% and 0.41%, respectively. The banks sector also declined 0.40% after Dubai Islamic Bank (DIB) retreated 0.36%.
Some portfolio investors tended to decrease their positions in blue chips especially in the banks and real estate sectors, amid investors’ anxiety over the volatile performance of global stocks after the recent attack in London, financial analyst Gamal Saad told Mubasher.
The market is likely to continue its decline in the coming sessions, he said, adding that small traders should not increase their purchases unless the main index breaks above 3,520 points.
Trading volume reached 168.8 million shares on Thursday, compared to 165.39 million shares on Wednesday. Turnover amounted to AED 231.37 million, compared to AED 144.07 million.
Translated by: Julian Nabil
