Dubai-Mubasher: Dubai Financial Market (DFM) declined in Wednesday’s morning trade, pressured by Emaar and Dubai Islamic Bank.
At 11:00am UAE time, the benchmark fell 0.85% or 26.65 points to reach 3,120.43.
The local markets are expected to see normal profit-taking especially the stocks which witnessed strong rallies over the last period, analysts told Mubasher.
The transport sector led decliners with a fall of 2.03%, hit by Air Arabia and Aramex which dipped 2.3% and 1.92%, respectively.
The investment sector followed with a loss of 1.72%, as Dubai Investment slipped 2.46%.
The real estate sector also moved 1.03% lower on Emaar which shed 1.38%. Arabtec kept flat.
Dubai Islamic Bank, which was lost 0.67%, pushed the banking sector 0.31% lower.
On the flipside, the telecom sector rose 0.2%, boosted by du which rose by the same percentage to AED 5.070.
A total of 197.66 million shares changed hands through 2,430 transactions at a turnover of AED 191.4 million.
Translated by Abdul Maguid Aboshahla
