By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index shed 38.4 points, or 1.15%, to close at 3,292.05 points on Sunday, which is its lowest level in more than three months.
The DFM’s trading volume shrank to 160.88 million shares in the first session of the week from 186.12 million on Thursday, while the market’s liquidity increased to AED 225.85 million, compared to AED 197.55 million in the previous session.
The consumer staples sector tumbled1.8% after Marka sank 4.13%.
The real estate sector went down 1.64% after Arabtec Holding, Emaar Properties, and Emaar Development fell 3.8%, 2.6%, and 2.3%, respectively.
The investment sector declined 1.6% after SHUAA Capital plunged 7.2%, while the banks sector shed 1.6%, as Dubai Islamic Bank (DIB) sank 1.6%.
Despite the positive results of some DFM-listed companies, including Emaar Properties and DIB, and the big dividends on the market, the DFM shed, pressured by the negative performance of the US’ markets, which propelled investors to initiate a selling trend, the financial analyst Wadah Al-Taha said.
The market is responding more effectively to negative news than the positive, Al-Taha added, concluding that investors are creating a negative atmosphere on social media, which reinforced their concerns regarding the market’s performance.
Translated by: Muhammad Khalid
