Dubai – Mubasher: The Dubai Financial Market (DFM) was down early Sunday, pressured by the decline of three of its sectors, led by banks and real estate.
By 11:12 am UAE time, the DFMGI lost 0.35% or 12.38 points to 3,496.96 points; thus, falling below the level of 3,500 points, in line with analysts’ expectations.
The banks sector lost 0.8% after Dubai Islamic Bank (DIB) tumbled 1.36%, while the real estate sector lost 0.32% after Arabtec and Emaar Malls dropped 2% and 0.76%, respectively.
The investment sector shed 0.14% as DFM Company declined 0.8%.
Turnover reached AED 63.06 million as 55.45 million shares were traded through 743 transactions.
Earlier on Sunday, analysts told Mubasher that last week’s state of caution and anticipation was likely to continue impacting UAE markets on Sunday and throughout the week, while companies were set to continue disclosing their financials for the first quarter of the year. They also advised traders to trade cautiously.
