Dubai – Mubasher: The Dubai Financial Market (DFM) opened Monday’s trading session in the red, pressured by the investment and real estate sectors.
By 11:30 am UAE time, the DFMGI fell 0.30% or 9.71 points to 3,404.68 points, nearing the level of 3,400 points.
The investment sector lost 0.94% after Dubai Investments and DFM Company tumbled 1.4% and 0.8%, respectively.
The transport sector shed 0.74% after Gulf Navigation retreated 1.54%, while the real estate sector declined 0.26% on the back of Arabtec Holding’s 1.05% drop.
In the meantime, turnover reached AED 247.08 million as 180.36 million shares were traded through 1,418 transactions.
Earlier on Monday, analyst Hassan Al Zawy noted that there are negative indicators for the DFM despite Sunday’s closing, highlighting that the market will not stabilise until it passes the level of 3,523 points.
He advised traders to be “extra cautious” during the coming period as oil and global markets are testing important levels.
