By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index shed 29.41 points, or 0.94%, to close at 3,106.95 points on Monday on the back of profit-taking.
Speculators started a selling trend, which dragged down stocks in today’s session, especially blue chips, technical analyst Gamal Abdul Hamid told Mubasher.
This eagerness for profits affected most of the stocks’ prices, Abdul Hamid added.
The consumer staples sector lost 2% after Marka dropped 4.7% to AED 0.478, while DXB Entertainments went down 1.6% to AED 0.474.
The real estate sector declined 1.28%, as Emaar Properties levelled down 2.56% to AED 5.7.
The banks sector decreased by 1.13% after Dubai Islamic Bank (DIB) sank 1.85% to AED 5.3.
The services sector fell 1.1%, as Amanat Holdings shed 2.2% to AED 1.34.
The transportation sector declined 0.78%, pressured by Gulf Navigation, Air Arabai, and Aramex which sank 0.9%, 0.86%, and 0.68%, respectively.
On the positive side, the investment sector increased by about 0.75% after the DFM Company rose 0.96% and Dubai Investments gained 0.94% to AED 2.14.
The DFM’s trading volume shrank to 135.37 million shares from 165.72 million on Sunday, while the market’s liquidity went down to AED 214.75 million versus AED 227.88 million in the previous session.
GFH was the most actively-traded stock on the DFM in terms of volume, with 21.91 million traded shares, while Emaar Properties led the market in terms of liquidity, with a turnover of AED 84.54 million.
Translated by: Muhammad Khalid
