By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index shed 47.7 points, or 1.46%, to 3,134.12 points by the end of the week on the back of selling pressure, amid discontent among investors over some disclosures and dividends.
The DFM’s trading volume declined to 395.79 million shares from 518.956 million in the previous week, while the market’s liquidity dropped to AED 868.75 million, compared to AED 1.45 billion a week earlier.
The transportation sector tumbled 3.6% after Air Arabia plunged 10.6% to AED 1.17, while the consumer staples sector lost 2.3%, as DXB Entertainments went down 2.3% to AED 0.526.
The transportation sector decreased by 0.73% after Emaar Properties declined 1.17% to AED 5.89.
The investment sector sank 0.18%, as Shuaa fell 3.67% to AED 1.05.
Markets have seen selling pressure over most of the week’s sessions that led them to a red zone, where they will recover in the coming period, market analyst Mohamed Tawfik said.
We have been in the ordinary general meetings (OGMs) and dividends season, whose effect should have been more significant, Tawfik added.
One of the reasons behind the retreat in the DFM is investors’ concerns over the global markets’ performance, the analyst concluded.
Translated by: Muhammad Khalid
