Dubai-Mubasher: Dubai Financial Market (DFM) saw a negative performance in Tuesday’s early trades amid a wave of declines that hit blue-chip stocks led by Emaar Properties, Dubai Islamic Bank, Arabtec Holding and Dubai Investments.
The main gauge fell by 1.98% or 58.16 points to reach 2,884 points by 10:35am UAE time.
Analysts told Mubasher earlier today that UAE markets would continue their downward trend amid the absence of catalysts, investors’ caution and lower oil prices.
The real estate sector led losers after falling 3.2%, weighed by Emaar and Arabtec which decreased 4.37% and 3.25%, respectively.
Similarly, the banks sector retreated 1.17% due to a drop in Dubai Islamic Bank by 2.12%.
The investment sector lost 2.17% as Dubai Investments and DFM Company levelled down 2.14% and 1.8% in a row.
The telecom sector slid 0.6% after du went down 0.6% to AED 5.07.
On the flipside, the industrial sector was the only riser after adding 1.45%, backed by the gains of National Cement Company.
Turnover reached AED 88 million after 62 million shares were traded through 1,200 transactions.
