By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index declined 7.9 points, or 0.27%, to close at 2,881.8 points on Thursday on the back of the geopolitical tension.
The simultaneity between recent losses in the DFM and the current inflammatory developments in the Middle East shows the impact of such events on investors’ morale, senior financial analyst at Mena Corp Issam Kassabieh told Mubasher.
However, stock markets are still attractive to investors due to its high returns, Kassabieh added.
The banks sector lost 0.84% after Dubai Islamic Bank (DIB) decreased by 1.6% to AED 4.85, while the investment sector sank 0.66%, as Air Arabia went down 0.85%.
The consumer staples sector fell 0.24% after DXB Entertainments retreated 0.26% to AED 0.379.
On the other hand, the real estate sector inched up 0.01% after Arabtec Holding hiked 8.7% to AED 1.74.
The DFM’s trading volume reached 244.34 million shares, while the market’s volume hit AED 372.73 million.
GFH topped the market in terms of both volume and value, with 66.06 million traded shares and a turnover of AED 99.71 million.
Translated by: Muhammad Khalid
