By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) closed Thursday’s trading session in red territory, pressured by profit-taking deals on some blue-chip stocks.
The general index went down 1.5%, finishing the last session of the week at 2,635.78 points.
The DFM’s trading volume reached 141.66 million shares exchanged with a turnover of AED 223.61 million through 2,378 transactions.
Emaar Developments’ stock topped decliners after falling 4.65%, followed by Damac Properties and Emaar Malls with 4.17% and 3.85%, respectively.
The UAE stock markets have experienced a hefty profit-taking streak, especially the DFM after the retreat of some blue-chip stocks, Raed Diab, head of investment research at KAMCO, told Mubasher.
This downward trajectory is part of a healthy correction movement expected to be followed by a repurchasing trend, he added.
