Dubai-Mubasher: Dubai Financial Market (DFM) closed in the red on Tuesday, continuing its negative performance for the third session in row, weighed by Dubai Islamic Bank (DIB).
Turnover reached AED 297.4 million ($81 million) on Tuesday, compared to AED 267.46 million ($72.8 million) on Monday. Turnover stood at 323.7 million shares, compared to 251.8 million shares.
The recent negative performance of the UAE stocks does not raise fears as it is not coupled with strong trading value, said capital market analyst Mohammed Erakat.
The transportation sector lost 1.38% as Air Arabia and Aramex retreated 2.2% and 0.64% in a row.
The investment sector declined 0.74% after Dubai Investments and DFM Company fell 0.51% and 1.72%, respectively.
The banks sector slid 0.39% due to a drop in Duabi Islamic Bank and Amlak Finance by 0.67%and 0.76% in a row.
On the flipside, the real estate sector rose 0.25%, backed by the gains of Emaar Malls Group and Union Properties.
The telecom sector rose 0.4% after du increased 0.4% to AED 5.07.
