Dubai – Mubasher: The Dubai Financial Market’s (DFM) main index inched down on Sunday on the back of cautious trading.
The DFMGI edged down 0.07% or 3 points to close at 3,657.54 points.
Anticipation was controlling force among traders on Sunday, which dragged the main index down, financial analyst Razan Shahwan told Mubasher.
Traders are eagerly awaiting the results of Emaar Properties’ general meeting and the details regarding the initial public offering (IPO) of its real estate subsidiary, in addition to the disclosure of financial results of some companies, especially DAMAC Properties, Emirates NBD, Ajman Bank, and Mashreq Bank, Shahwan added.
Mashreq bank led the DFM’s losers on Sunday after tumbling 3.4% to AED 70.5, while SHUAA Capital and Arabtec Holding decreased by 1.77% and 1%, respectively.
Emaar Properties fell 0.57% and Dubai Islamic Bank (DIB) shed 0.5%.
The DFMGI is projected to drop to 3,600 points this week on the back of cautious trading, Shahwan concluded.
The DFM’s trading volume reached 416.86 million shares, generating AED 531.73 million through 5,074 transactions.
