Dubai-Mubasher: The UAE equity markets kicked off in the red on Tuesday amid the negative performance of real estate and banks stocks led by Emaar Properties, Aldar, Dubai Islamic Bank (DIB) and First Gulf Bank (FGB).
Dubai Financial Market (DFM) levelled down 0.6% or 17.55 points to reach 2,962.5 points by 10:20am UAE time.
Abu Dhabi Securities Exchange (ADX) also declined 0.43% or 17.56 points to reach 4,088.81 points.
In Dubai’s stock market, the services sector slid 1.45%, followed by the real estate and banks sectors with 1.03% and 0.22% in a row. Meanwhile, the telecom sector was the only gainer after rising 0.74%.
Emaar was the worst performer after falling 1.54%, while DIB and Dubai Investments slumped 0.67% and 0.58%, respectively.
The market saw trading of 44 million shares through 822 transactions, generating AED 55.2 million.
As for Abu Dhabi market, the energy sector led decliners after decreasing 1.83%, followed by the real estate and banks sectors with 1.4% and 0.52% in a row. However, the telecom sector remained unchanged.
Union National Bank (UNB) was the top loser after going down 4.1%, while Dana Gas, Aldar and FGB retreated 2.3%, 1.3% and 0.85%, respectively.
Trading volume reached 18.4 million shares exchanged through 201 transactions, generating AED 14 million.
