Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Sunday, backed by profit-taking on blue chips led by GFH Financial Group and Emaar Properties.
The DFMGI fell 0.61% or 21.94 points to reach 3,602.55 points.
The industrial sector led losers with a 9.52% decline as National Cement Co sank 9.52%. The transportation sector also retreated 1.44% as Gulf Navigation Holding went down 4.4%.
The real estate sector tumbled 0.99% after Drake and Scull International (DSI), Arabtec Holding, and Emaar Properties sank 1.5%, 1.22%, and 1.2%, respectively.
The banks sector fell 0.16% after GFH Financial Group retreated 3.26%.
Trading volume reached 126 million shares on Sunday, compared to 177.18 million last Thursday. Turnover amounted to AED 169.28 million, compared to AED 282.64 million.
The UAE general indices are still moving upward; yet, they are still pressured by the decline of trading volume and lack of catalysts, according to Ramy Rashad, head of advisory at Al Safwa Mubasher Financial Services.
The DFM tried to stabilise above 3,590 points on the medium-term since mid-July, Rashad said.
