By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Tuesday, in line with a rise in trading volume.
The general index fell 0.21% or 7.42 points to reach 3,446.97 points.
Turnover amounted to AED 288.608 million on Tuesday, compared to AED 133.872 million on Monday. Trading volume reached 217.385 million shares, compared to 87.05 million shares.
The telecom sector declined 0.49% as Hits Telecom retreated 8.75%.
The banks sector levelled down 0.46% after Mashreq Bank and Dubai Islamic Bank (DIB) sank 0.62% and 0.54%, respectively.
The markets are still suffering from the “sharp” decline in trading volumes as some investors tended to keep their cash and hold stocks, according to Jamal Ajaj, director of Al Sharhan Shares Centre in Abu Dhabi.
The real estate sector slid 0.04% as Arabtec Holding and Emaar Properties retreated 1.24% and 0.96%, respectively.
On the other hand, the investment sector topped gainers with a 0.3% increase after Dubai Investment gained 0.82%.
The transportation sector rose 0.11% as Aramex levelled up 0.2%.
GFH Financial Group was the value leader with a turnover of AED 96.71 million generated from the exchange of 38.18 million shares.
Translated by: Julian Nabil
