By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Thursday, amid the volatile performance of global stocks.
The general index lost 0.19% or 6.9 points to reach 3,566.35 points.
The bourse saw a volatile performance in Thursday’s session due to profit-taking on real estate and banks stocks, capital market analyst Mohamed Ismail told Mubasher.
The real estate sector led losers with a 0.52% decline as Emaar Malls Group and Emaar Properties slid 1.12% and 0.4%, respectively. The banks sector also retreated 0.31% after Dubai Islamic Bank (DIB) levelled down 0.34%.
The investment sector slid 0.06% after DFM Company and SHUAA Capital tumbled 1.6% and 0.6%, respectively.
Some portfolio investors tended to decrease positions on blue chips amid fears over first-quarter financials to be announced next week, Ismail added.
On the other hand, the insurance sector topped gainers with a 2.8% rise as Dar Al Takaful added 14.8%.
Trading volume reached 266.6 million shares on Thursday, compared to 238.96 million shares on Wednesday. Turnover amounted to AED 313.9 million, compared to AED 375.66 million.
Traders should focus on operational stocks which reached attractive price levels, Ismail added.
Translated by: Julian Nabil
