By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index lost 18.42 points, or 0.59%, to close at 3,078.96 points on Tuesday, dragged down by profit-taking.
The UAE markets have been affected by the positive sentiment followed the announcement of Abu Dhabi’s AED 50 billion ($13.6 billion) investment to promote the emirate’s economy, vice president of Investment Research at KAMCO Raed Diab told Mubasher.
The DFM saw a buying trend after a group of blue chips, especially real estate stocks, reached attractive levels, which attracted more investments and boosted liquidity, Diab added.
The transportation sector shed 1.14% after Aramex declined 2.5% to AED 3.95, while the consumer staples sector sank 0.9%, as DXB Entertainments fell 0.98% to AED 0.402.
The real estate sector declined 0.73%, as Union Properties and Emaar Malls shed 1.94% and 0.9%, respectively.
The banks sector levelled down 0.49% after Dubai Islamic Bank (DIB) fell 0.19% to AED 5.18.
On the other hand, the services sector rose 0.48% after Tabreed gained 1.14% to AED 1.77.
The DFM’s trading volume reached 165.25 million shares, while the market’s liquidity hit AED 241.39 million.
Emaar Properties topped the market in terms of both liquidity and volume, with 7.07 million traded shares and a turnover of AED 40.82 million.
Translated by: Muhammad Khalid
