By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index shed 0.3% to 3,091.15 points, amid the anticipation of fresh market-boosting catalysts.
The DFMGI is still low and short of liquidity, while the future remains foggy with heightened concerns over Dubai’s real estate sector, vice president of Investment Research at KAMCO Raed Diab told Mubasher.
We may see some buying transactions aimed at correction before the first quarter’s disclosures, as stocks have reached attractive levels, Diab added.
The consumer staples sector lost 2.9% after DXB Entertainments tumbled 3.2% to AED 0.454, while the investment sector went down 1.35%, as Dubai Investments fell 1.87% to AED 2.1.
The transportation sector levelled down 0.6% after Aramex sank 1.4% to AED 1.2%.
The services sector shed 0.28, as Tabreed declined 1.84% to AED 1.6, while the real estate sector decreased by 0.27% after Union Properties, Damac Properties, and Emaar Properties levelled down 1.12%, 0.53%, and 0.33%, respectively.
Meanwhile, the telecommunication sector and its only stock, du, rose 0.2% each.
The banks sector also grew 0.15%, as Emirates NBD went up 0.47% to AED 10.65.
The DFM’s trading volume increased to 96.53 million shares from 72.09 million on Tuesday, while the market’s liquidity levelled up to AED 156.62 million versus AED 123.68 million in the previous session.
Translated by: Mahmoud Gamal
