By Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) gave a negative performance over 15-19 January, battered by blue-chip and defensive stocks.
The main index lowered 31.23 points or 0.84% to stand at 3,690.39 points, shrugging last week’s green ending.
Liquidity fell to AED 2.8 billion compared with AED 4.98 billion a week earlier, while volumes moved down to 2.24 billion shares from 4.5 billion shares.
The real estate sector closed the week 0.9% down on Arabtec (-2.7%) and Emaar (-1.4%), while the investment sector fell 0.4% as Dubai investments and Dubai Financial Market lowered 1.9% and 1.5%, respectively.
This red end is driven by a wave of profit-taking hit blue-chip and defensive stocks, said market analyst Jamal Abd Al-hameed
The main index is likely to cross over 3,700 points next week, the analyst added, indicating that, holding above this mark will lead the index higher towards the 3,750 – 4,000 zone.
