By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) continued its negative performance this week, weighed down by the fall of investment, real estate and banks sectors.
The DFMGI fell 0.34% or 11.24 points to reach 3,262.82 points.
Turnover amounted AED 3.17 billion this week, compared to AED 2.55 billion last week. Trading volume reached 2.76 billion shares, compared to 1.922 billion shares.
The market was weighed down by the volatile performance of global markets and review of MSCI's emerging markets index, according to capital market analyst Tarek Ghanam.
The investment sector declined 1.7% as DFM Company went down 0.8%.
The real estate sector retreated 1.49% as Emaar Properties fell 0.45%. Likewise, the banks sector declined 0.04% after Ajman Bank slid 5.7%.
The UAE markets are likely to rise after some rearrangement of portfolios’ positions following the end of third-quarter financial announcements, Ghanam added.
Investors should not increase their positions until the main index stabilised above 3,300 points, Ghanam noted.
Translated by: Julian Nabil
