By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) closed Sunday on a negative note due to a drop in the investment and real estate sectors.
The bourse’s main index shrank 0.01% or 0.41 point to the level of 3,583.41 points.
Trading volume reached 475.77 million shares, versus 825.61 million shares exchanged on Thursday.
Turnover decreased to AED 495 million from AED 1.047 million.
The investment sector fell 0.6% as DFM and Dubai Investments declined 1.3% and 0.5% respectively.
The real estate sector dipped 0.6% as Arabtec decreased 0.6% to AED 1.73. The stock made the highest liquidity as it generated AED 102.33 million.
“Arabtec’s stock needs to break the price level of AED 1.87 to target AED 2.10,” Raed Diab, Vice President of Investment Research Department in KAMCO, told Mubasher.
Emaar Properties’ stock fell to AED 6.83 after 4.25 million shares were exchanged at AED 29.29 million.
On the other hand, the banks sector grew 0.25% thanks to Dubai Islamic Bank which rose 0.8%.
Diab expected the market to reach the resistance level of 3,750 points.
The bourse’s main gauge closed Thursday’s session with a rise of 1.07%.
Translated by: Elwy el-Manzalawy
