By Thabet Shehata
Dubai – Mubasher: Dubai Financial Market pulled back on Thursday, dropping most in the last seven weeks, as it tracked global stock markets that showed negative performance.
The main index fell by 3.42% - the biggest one day losses since mid-November, 2015 – as it lost 105.2 points to close below the 3,000 barrier at 2,966.43 points.
Chinese stock indices tumbled on Thursday, as Chinese authorities presented new regulations for control over sale of equities. China’s main indices fell by more than 7% in less than half an hour on Thursday, which drove regulators to halt trading.
DFM turnover rose to AED 390.67 million ($106.36 million), up from AED 367.4 million ($100.02 million) on Wednesday. Meanwhile, traded volume decreased to 316 million shares from 430.4 million shares.
The real estate sector was the biggest loser (-4.13%), followed by investment (-3.89%) and banks (-3.85%). Meanwhile, the telecoms sector bucked the downtrend, rising 0.6%.
Emirates NBD stock led losers with a fall of 5.4%, followed by Emaar (-5.35%). DIB, Arabtec and Dubai Investments lost 5%, 4.17% and 4.08% respectively.
Translated by Sayed Abdel Rahman
