By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index dropped to its lowest weekly level in a month, pressured by Emaar Properties’ dividends, which were considered disappointing by investors.
The DFMGI shed 1.12%, or 38.06 points, to 3,460.93 points over the week.
Meanwhile, the DFM’s trading volume surged 105% to 1.2 billion shares from 593.39 million shares in the week ended 7 December, while the market’s liquidity soared 82% to AED 2.23 billion, compared to AED 1.23 billion in the previous week.
The index was fluctuating and the sharp decline of both Emaar Properties and Emaar Development had a great impact on the DFM, Al Sharhan Stock Center told Mubasher.
Emaar Properties tumbled 10% to AED 6.95 after 65.49 million shares were traded, with a turnover of AED 472.9 million.
The newly-listed Emaar Development lost 0.7% to AED 5.3, with a turnover of AED 82.27 million.
GFH Group decreased by 0.63% to AED 1.6, generating 475.09 million.
Meanwhile, the investment sector’s stocks rose, led by SHUAA Capital, which surged 12.03% to AED 1.02, generating AED 41.5 million, while Dubai Investments grew 3%, with a turnover of 147.95 million.
Despite the declining trend, which was the market’s main theme in a week, the DFM’s saw a considerable buying trend on some stocks, including Amanat Holdings and Drake and Scull International (DSI), said Eyad Al Bariqi, Al Ansari Financial Services’ director general.
Amanat Holding increased by 5.5% to AED 1.34, with a turnover of AED 259.99 million, while DSI went up 2.3% to AED 2.2, generating AED 607.7 million.
Markets remain in good condition and have actual investment opportunities, Al Bariqi added, noting that the DFM would rise again in the coming weeks.
Translated by: Muhammad Khalid
