By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index lost 0.47% to close at 2,948.84 points on Tuesday.
The UAE markets are in need of huge incentives that could attract investors back to buying, Mubasher’s senior sales trader Mohab Maher said.
Today, the markets saw a vigorous sale trend, which dragged them down, Maher added.
Markets are likely to lose in the coming phase, as the holy fasting month of Ramadan approaches, a period that is marked by inactivity, the analyst commented.
The real estate sector shed 1.04% after Arabtec Holding and Damac Properties dropped 5.14% and 4.5%, respectively.
The banks sector inched down 0.06%, as Dubai Islamic Bank (DIB) declined 0.18% to AED 5.63.
On the other hand, the services sector grew 1.4% after Tabreed rose 2.3% to AED 1.78, while the consumer staples sector added 0.7%, as DXB Entertainment increased by 0.8% and the transportation sector edged up 0.04% after Aramex rose 0.26%.
The DFM’s trading volume reached 207.85 million shares, while the market’s liquidity hit AED 313.71 million.
GFH lost 0.7% to AED 1.36 and topped the market in terms of both trade volume and value, with 87.85 million shares and a turnover of AED 123.3 million.
Translated by: Muhammad Khalid
