By: Enas Bahgat
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index dropped to its lowest levels in six months on Sunday, with lower liquidity, on the back of some blue chips.
The DFMGI shed 0.48%, or 16.28 points, to 3,348.81 points.
The profit-taking transactions led the decline trend, capital market analyst Muhammad Saeed told Mubasher.
The real estate sector tumbled 0.41% after Arabtec Holding, Emaar Properties, Deyaar, Emaar Malls, and Drake and Scull International (DSI) levelled down 1.26%, 0.7%, 0.61%, 0.48%, and 0.45%, respectively.
The banks sector inched down 0.07%, dragged down by four stocks, Al Salam Bank Bahrain, GFH Group, Ajman Bank, and Emirates NBD, which dropped 2.22%, 1.27%, 0.89%, and 0.61%, respectively.
The DFM’s trading volume decreased to about 123.43 million shares on Sunday from 420.87 million shares on Thursday, while the market’s turnover more than halved to AED 181.07 million through 2,107 transactions, compared to AED 482.55 million in the previous session.
The trading was not very good on Sunday, given the unclear situation and the lack of market-moving catalysts, Saeed continued, noting that the DFM will still seeing mixed performance until the emergence of new incentives.
Translated by: Muhammad Khalid
