By: Mahmoud Gamal
Dubai-Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Thursday, weighed down by profit-taking on blue chips.
The general index lost 0.35% or 12.04 points to reach 3,471.9 points.
Some heavyweight stocks saw profit-taking after their successive gains, according to Jamal Ajaj, Director of Al Sharhan Shares Center in Abu Dhabi.
The banks sector led losers after falling 1.02% as Dubai Islamic Bank (DIB) and Emirates NBD closed lower.
The transportation sector slid 0.48% due to a decline in Air Arabia. The real estate sector levelled down 0.18% after Damac Properties, Emaar Malls, and Drake and Scull International (DSI) saw losses.
Blue chips fell as speculators pressure on the market and tend to buy stocks with lowest prices, amid anticipation of the Bank of England's decision on interest rates, Ajaj said.
On the flipside, the investment sector rose 0.2% as Dubai Investments saw gains at close.
Trading volume reached 302 million shares on Thursday, compared to 529.69 million shares on Wednesday. Turnover stood at AED 411.44 million, compared to AED 687.18 million.
Translated by: Julian Nabil
