Dubai – Mubasher: The UAE stock markets opened Sunday in the red zone, due to falls in the banking and real estate sectors.
The Dubai Financial Market (DFM) inched down 0.12% or 3.8 points to the level of 3,089 points, and the Abu Dhabi Securities Exchange (ADX) fell 0.17% or 7.24 points to 4,205.64 points.
The reversal of oil gains is expected to overshadow stock markets in the region, including the United Arab Emirates’ bourses, on Sunday, analysts told Mubasher.
In DFM, the transportation sector headed the red list with a drop of 0.66%, followed by the banking and investment sectors which lost 0.29% and 0.17% respectively. However, real estate came in green with a slight rise of 0.05%. Telecom was flat.
Emaar slipped 0.7% and 0.17% respectively, while Arabtec rose 3.7% after the firm announced its 2015 results. In the meantime, Dubai Investments stood at the same level.
Trading volume reached 126 million shares worth AED 138 million through 1,500 trades.
Meanwhile in ADX, the investment sector was the worst performer after dipping 0.49%, followed by the banking and real estate sectors as they decreased 0.26% and 0.23%, respectively.
National Bank of Abu Dhabi topped losers with a decline of 1.84%, Aldar Properties shrank 1.84%, whereas First Gulf Bank, Eshraq Properties and Dana Gas were flat.
Turnover came to AED 57.7 million as 42 million shares were exchanged through 324 transactions.
The (DFM) closed Thursday in green thanks to selective purchases which pushed most sectors up, with liquidity rising to the highest level in February.
Meanwhile, the ADX resumed its rise for the fifth session in a row on Thursday, amid an increase in trading activity, triggered by leading sectors.
Translated by: Elwy el-Manzalawy
