By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index lost 6.56 points, or 0.21%, to close at 3,100.39 points on Tuesday on the back of selling pressure.
The DFM was short of liquidity and saw a second consecutive decline, while stock prices reached 2- to 3-year low, technical Analyst Ahmad Sabha commented.
Despite these attractive prices, investors are still not confident about the market’s performance, which is uncanny, given the current stability seen in both the national and global economies, Sabha said.
The consumer staples shed 1.1% after Marka lost 1.6% to AED 0.472.
The real estate sector sank 0.6%, as Emaar Development and Emaar Properties went down 1.85% to AED 5.3 and 1.05% to AED 5.64, respectively.
The investment sector fell 0.24% after the DFM Company levelled down 1.9% to AED 1.03, while the transportation sector sank 0.16%, as Aramex lost 2.5% to AED 4.26.
The services sector, on the other hand, rose 1.2%, pushed up by Tabreed, which surged 1.88%.
The DFM’s trading volume shrank to 72.09 million shares from 135.37 million on Monday, while the market’s liquidity nearly halved to AED 123.68 million versus AED 214.75 million in the previous session.
Ithmaar Holding led the DFM in terms of volume, with 12.64 million shares, while Emaar Properties topped the market in terms of liquidity, with a turnover of AED 10.62 million.
Translated by: Muhammad Khalid
