By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index declined 21.97 points, or 0.97%, to 2,542.67 points in a week, amid cautious trading.
The market will see more fluctuations until the release of blue-chip companies’ disclosures, analysts told Mubasher.
The real estate sector dropped 5.46%, while the investment, consumer staples, while the investment and the consumer staple sectors went down 3.3% each. The telecommunication sector lost 0.2%.
Over the week, Emaar Development tumbled 11.6%, while Emaar Properties, Emaar Malls, Dubai Investments, and the DFM company levelled down 6.34%, 4.5%, 5.3%, and 1.1%, respectively.
On the other hand, the banking sector jumped 4.72% over the week, after Emirates NBD soared 9.57%. Dubai Islamic Bank (DIB) added 1.2% and Arabtec Holding gained 1.42%.
The market wants more liquidity and new incentives, which will bring about a new investment environment, vice president of Investment Research at KAMCO, Raed Diab, said.
Translated by: Muhammad Khalid
