Dubai – Mubasher: Dubai Financial Market (DFM) opened Thursday’s trading in red, amid a negative performance by leading shares, spearheaded by Arabtec, Emaar, Dubai Islamic Bank and Dubai Investment.
The bourse’s main index fell by 14.3% to the level of 3,200.2 points, after losing 14.3 points in early trading.
DFM managed to close Wednesday in green, with support by Arabtec and Dubai Islamic Bank.
Analysts suggested that the Dubai market still suffers from the traders’ caution, which negatively affects the liquidity levels.
The transportation sector was the worst performer in morning trading with a drop of 0.7%, weighed down by the losses in Air Arabia share which slipped 1.64%.
The real estate sector came second in the red list with a 0.6% decrease, in the shadow of weaker Arabtec and Emaar shares as they fell 0.88% and 0.84%, respectively.
Meanwhile, the banking sector’s losses reached 0.43%, driven by a 1.13% decrease in Dubai Islamic Bank share and a rise of 0.6% in Emirates NBD Bank.
However, services was the only gainer in early trading with a surge of 0.85%, supported by the gains of Amanat, while the telecom steadied.
Trading volume at morning reached 14.4 million shares worth AED 14.26 million after 312 trades were completed.
