Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index lost 1.23% to 2,829.16 points on Monday, pulled down by selling pressure.
The latest negative news concerning The Abraaj Holding’s crisis harm the UAE markets and make them unattractive to foreign investors, analysts told Mubasher.
Competent authorities should tackle misdeeds affecting disclosures and transparency in a bid to re-stabilise the markets, they added.
The consumer staples sector tumbled 3.42% after DXB Entertainments dropped 3.81% to AED 0.328, while the real estate sector declined 2.02%, as Arabtec Holding went down 2.91% to AED 2, and Damac Properties and Emaar Properties shed 1.6% each.
Drake and Scull International (DSI) plunged 10% to AED 0.674, while the investment sector decreased 0.99%, as Dubai Investments sank 1.5% to AED 1.9.
The banks sector fell 0.92% after Dubai Islamic Bank (DIB) went down 1.41% to AED 4.91.
There are various investments opportunities in the DFM, but investors need more guarantees to collect shares, analysts revealed.
The DFM’s trading volume reached 129 million shares, while the market's liquidity amounted to AED 166.8 million.
