By: Mahmoud Gamal
Dubai-Mubasher: The Dubai Financial Market (DFM) continued its losses on Wednesday, in line with profit-taking on leading sectors topped by the investment and real estate.
The main index fell 0.74% or 26.32 points to reach 3,517.87 points.
The market was pressured down by profit-taking and state of cautious that controlled traders’ sentiment, in addition to volatility of oil and global stock markets, market analyst Abdullah Al-Aly told Mubasher.
The investment sector was the worst performer after falling 1.53%, dragged down by DFM Company which led losers with a 2.9% decline.
The real estate sector fell 1.10% as Arabtec Holding and Emaar Properties decreased 2% and 1.52% respectively. The services sector levelled down 0.98% after Amanat Holdings slid 1.12%.
Trading volume reached 309.79 million shares on Wednesday, compared to 421.74 million shares on Tuesday. Turnover stood at AED 321.64 million, compared to AED 448.05 million.
The market’s liquidity is still thin due to calm trading before Eid al-Adha vacation, Al-Aly added.
The DFMGI is likely to continue its fall to 3,490-3,500 points, Al-Aly noted, adding that traders should not increase their positions until the main index returns to the level of 3,540 points.
Translated by : Julian Nabil
