Dubai-Mubasher: Dubai Financial Market (DFM) opened in the red on Sunday amid a wave of declines that hit all main sectors led by the banks and real estate sectors.
The general index retreated 2.96% or 91 points to reach 2,982.2 points by 11:00am UAE time.
The UAE markets are expected to continue its speculative trend amid heavy trading activity on banks sector’s stocks after the Federal Reserve raised the interest rate, analysts previously told Mubasher.
The investment sector lost 3.63% after Dubai Investments and DDFM Company declined 3.55% and 4.3%, respectively.
The banks sector levelled down 3.2% as Dubai Islamic Bank and Emirates NBD decreased 3.6% and 4% in a row.
The real estate sector slid 3.2% due to a drop in Arabtec Holding and Emaar Properties by 4.6% and 2.6%, respectively.
The telecom sector contracted by 1% after du slumped 1% to AED 5.
The market saw trading of 75.66 million shares through 1,440 transactions, with turnover of AED 92 million.
