By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) opened Tuesday in the red, pressured by declines in most of its sectors particularly banks and investment.
The DFMGI shed 0.3% or 8.8 points to 3,307.18 points by 10:40am UAE time. Turnover reached AED 74.96 million after 97.34 million shares were exchanged through 1,098 transactions.
From a technical perspective, the Dubai market is likely to extend its the correction, said analyst Mohamed Al-Kaaby.
He added that the DFM is expected to fall towards the level of 3,255 points this week.
The telecom sector led losers, falling 0.87% on du, while the banking sector declined 0.7%, weighed down by Dubai Islamic Bank (DIB).
The investment sector retreated 0.5% as DFM Company was in the red, while the transport sector gained 0.4% after Air Arabia added 0.8%.
Translated by: Nada Adel Sobhi
