By: Mahmoud Gamal
Dubai-Mubasher: Dubai Financial Market (DFM) trimmed the early losses it witnessed on Monday at close.
The general index declined 0.3% to 3,315.98 points.
The investment sector advanced 0.36% after Shuaa Capital and DFM Company went up.
The banks sector rose 0.10% as Dubai Islamic Bank (DIB) advanced 0.35%.
Some of the Dubai-listed blue chips were pushed down by the quick profit-taking seen in today’s session, according to capital market analyst Amir Mansour.
The main index was nearing to break the support level of 3,300 points which was the technical factor pressuring the bourse today, he added.
The consumer staples sector slid 1.4% as Dubai Parks and Resorts declined 1.5%.
The real estate sector retreated 0.9% after Arabtec Holding, Emaar Malls Group and Emaar Properties levelled down 1.3%, 1% and 0.5% in a row.
The UAE markets still lack catalysts, so they are vulnerable to speculations and volatile global markets, the analyst noted.
The markets are likely to be volatile, although portfolio investors desire to (increase) strengthen their positions in blue chips and mid caps, Mansour concluded.
