By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index shed 5.03 points, or 0.17%, to close at 2,924.94 points on Tuesday, pressured by profit-taking.
The DFM’s liquidity did not increase as expected following the UAE cabinet decisions regarding residency visas and foreign shareholding limits, which could attract more foreign investments, vice president of Investment Research at KAMCO Raed Diab told Mubasher.
The market’s liquidity may rise gradually after the end of the Muslim holy month of Ramadan and the vacation season, Diab said.
The transportation sector shed 1.16% after Gulf Navigation went down 1.94% to AED 1.01, while Aramex and Air Arabia sank 1.3% and 0.86%, respectively.
The consumer staples sector decreased by 1.09% after DXB Entertainments fell 1.2% to AED 0.414.
The real estate sector levelled down 0.35%, as Drake and Scull International (DSI), Arabtec Holding, and Emaar Properties lost 1.68%, 1.03%, and 0.58%, respectively.
On the other hand, the investment sector grew 0.32% after Dubai Investments added 0.49% to AED 2.05, while the banks sector rose 0.16%, as Dubai Islamic Bank (DAB) increased by 1.06% to AED 4.79.
Translated by: Muhammad Khalid
