By: Bedour Al Raee
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index shed 0.17%, or 5.65 points, to close at 3,314.93 points on Monday.
The DFM’s trading volume decreased to 176.72 million shares from 195.69 million on Sunday, while the market’s liquidity declined to AED 300.44 million versus AED 303.069 million in the previous session.
The UAE’s markets are seeing a confusing and unreasonable declining trend in a time, which should have been filled with growth in prices, indices, and liquidity, Al-Sharhan Centre’s general manager Gamal Agag told Mubasher.
The instability of global markets had a negative impact on investors’ morale, an impact that was not mitigated by the positive disclosures, Agag added.
The dividends scheduled for distribution in the coming period will boost the markets’ liquidity and, probably, save the day, the analyst commented.
The investment sector lost 1.67% after Dubai Investments and Amlak Finance dropped 2.13% and 2.1%, respectively.
The telecommunication sector and its only stock du levelled down 0.39%.
The banks sector inched down 0.06% after Dubai Islamic Bank (DIB) went down 0.48%.
On the other hand, the real estate sector grew 0.1%, as Emaar Development and Emaar Properties added 1.78% and 0.47%, respectively.
Emaar Properties was the most actively-traded stock on the DFM in terms of liquidity, with a turnover of AED 88 million, while Air Arabia topped the market in terms of volume, with 29.06 million traded shares.
Translated by: Muhammad Khalid
