By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index lost 38.57 points, or 1.23%, to close at 3,094.4 points on Thursday, pressured by the real estate and investment sectors.
The DFM was dragged down by the strong profit-taking trend, especially on blue chips on top of which Emaar Properties, Dubai Islamic Bank (DIB), and Damac Properties, technical analyst Gamal Abdul Hamid told Mubasher.
The geopolitical situation in the region has affected investors’ morale, propelling them to hold tight to their liquidity, Abdul Hamid added.
The investment sector tumbled 2.42% after the DFM Company and Dubai Investments lost 2.6% and 2.65%, respectively.
The banks sector went down 0.81%, as Emirates NBD shed 1.45% to AED 10.2 and DIB sank 0.73% to AED 5.46.
The transportation sector fell 0.53%, as Air Arabia declined 0.84% to AED 1.18.
The telecommunication sector and its only stock, du, decreased by 0.2% each.
The DFM’s trading volume surged to 176.1 million shares from 132 million on Wednesday, while the market’s liquidity soared to AED 282.47 million versus AED 210.16 million in the previous session.
Drake and Scull International (DSI) topped the DFM in terms of both volume and value, with 77.49 million traded shares and a turnover of AED 135.25 million.
Translated by: Muhammad Khalid
