Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index lost 1.77% or 62.4 points to 3,468.65 points during the week ended 25 January, dragged down by selling pressure.
The real estate sector declined 3.3% after Emaar Properties dropped 6.5% to AED 6.87, while the investment sector shed 1.8% after Dubai Investments went down 2% to AED 2.48.
The banks sector levelled down 0.565%, as Dubai Islamic Bank (DIB) fell 0.9%, while the transportation sector sank 0.2%, as Gulf Navigation tumbled 1.83% to AED 1.07.
On the other hand, the services sector surged 2.8% after Amanat Holdings soared 5.63% to AED 1.5.
The UAE’s markets did not reflect banks’ positive disclosures, and their indices fluctuated, with a shrunk liquidity, Al-Sharhan Centre’s general manager, Gamal Agag, told Mubasher.
Over the course of the week, the DFM’s trading volume increased by 8% to 986.765 million shares from 908.19 million in the previous week, while the market’s liquidity declined 6% to AED 1.54 billion, compared to AED 1.64 billion a week earlier.
Union Properties, which added 0.9% to AED 0.998, acquired 18% or AED 265.64 million of the DFM’s liquidity.
The companies’ disclosures will be the market's main driver over the coming sessions, the analyst commented, adding that a stock-collection trend was likely.
Translated by: Muhammad Khalid
