By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index lost 27.7 points to close at 3,034.27 points on Tuesday amid lack of fresh market-boosting catalysts.
The consumer staples sector tumbled 4.9% after Marka dropped 6.7% to AED 0.29, while DXB Entertainment plunged 4.8% to AED 0.418.
The real estate segment declined 1.3%, as Arabtec Holding decreased 2.8% to AED 2.1, while Union Properties shed 2.4%.
The investment sector lost 1.3% after Dubai Investments went down 1.5% to AED 2.02.
The transportation sector levelled down 1.2% after Air Arabia declined 1.65% to AED 1.19.
The banks sector went down 0.14%, as Dubai Islamic Bank (DIB) retreated 0.7% to AED 5.42.
The DFM is still lacking fresh incentives and confidence despite the recently-released positive disclosures, vice president of Investment Research at KAMCO Raed Diab told Mubasher.
The market needs more positive news and institutional investments to pave the way for a new growth trend, Diab added.
By the end of the mid-week session, the DFM’s trading volume more than doubled to 165.23 million shares from 70.29 million on Monday, while the market’s liquidity soared to AED 241.64 million, compared to AED 161.68 million in the previous session.
Emaar Properties topped the market in terms of both volume and value, with 6.11 million shares and a turnover of AED 33.91 million.
Translated by: Muhammad Khalid
