By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance for the second successive session on Monday, pressured by profit-taking.
The DFMGI fell 0.21% or 7.8 points to reach 3,658.14 points.
The market was weighed down by profit-taking on blue chips, technical analyst Gamal Abdel Hamid noted.
Arabtec Holding fell 0.84% to AED 3.54, while Emaar retreated 0.83% to AED 8.35.
On the other hand, Mashreq Bank rose 15.7%, followed by Damac Properties and Emaar Malls at 3.05% and 0.4%, respectively.
Turnover amounted to AED 244.22 million on Monday, compared to AED 202.6 million on Sunday. Trading volume reached 146.66 million shares, compared to 118.6 million shares.
Low liquidity is mainly attributed to traders shying away from trades, Abdel Hamid noted.
Closure of the main index above 3,650 points increases the possibility of its rise to 3,688-3,703 points, Abdel Hamid said.
Translated by: Julian Nabil
