DFM resumes losses dragged by real estate

Dubai-Mubasher: Dubai Financial Market (DFM) reversed on Monday the upward trend it saw yesterday, weighed by real estate stocks especially Emaar Properties and Arabtec Holding, in addition to the losses of Dubai Islamic Bank (DIB). 
The DFMGI slid 1.93% or 53.2 points to reach 2,703.9 points.
Turnover declined to AED 368.2 million ($100.26 million) on Monday, compared to AED 591 million ($88.26 million) on Sunday. Likewise, trading volume dropped to 351.2 million shares from 504.17 million shares.
The investment sector topped losers after falling 4.1%, while the real estate and banks sectors retreated 3.55% and 3.5% in a row. However, the telecom sector was the only gainer with a 0.2% rise.
Arabtec slumped 4.96%, followed by Dubai Investments (-3.68%), Emaar Properties (-2.76%) and Dubai Investments (2.09%). Meanwhile, Emirates NBD grew 2.26%.