By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index lost 10.45 points, or 0.33%, to close at 3,140.48 points on Monday, pressured by profit-taking on blue-chip stocks.
The DFM’s trading volume shrank to 68.49 million shares from 92.03 million on Sunday, while the market’s liquidity tumbled to AED 88.3 million versus AED 131.7 million in the previous session.
The UAE’s vice president and prime minister Mohammed bin Rashid Al Maktoum’s latest incentives and facilities had a positive effect on the Emirati markets on Sunday, technical analyst Gamal Abdul Hamid told Mubasher.
Markets are likely to gain confidence and receive more liquidity, Abdul Hamid added.
The real estate sector shed 0.68% after Emaar Properties declined 1.7% to AED 5.88, while the investment sector went down 0.6%, as Dubai Investments decreased by 0.9%.
The consumer staples sector levelled down 0.23% after Marka plunged 9.9% to AED 0.373.
On the other hand, the telecommunication sector and its only stock, du, gained 0.2% each.
The transportation sector rose 0.21% after Air Arabia added 0.8% to AED 1.2, while the banks sector inched up 0.02%, as Mashreq Bank increased by 1.3%.
Marka topped the DFM in terms of volume, with around 11.45 million traded shares, while Emaar Properties led the market in terms of liquidity, with a turnover of AED 20.8 million.
Translated by: Muhammad Khalid
