DFM closes in red on profit-taking Wednesday

By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index declined 18.73 points, or 0.66%, to close at 2818.44 points on Wednesday, pressured by rapid profit-taking transactions.

The transportation sector shed 1.43%, as Air Arabia and Aramex lost 1.48% and 1.63%, respectively.

The real estate sector went down 1.14% after Emaar Properties, Arabtec Holding, and Damac Properties sank 1.7%, 2.13%, and 0.48%, respectively.

The banks sector decreased by 0.67%, as DFM Company levelled down 0.64% to AED 0.934.

The DFM’s trading volume reached 209.43 million shares, while the market’s liquidity hit AED 146.63 million.

Market capitalisation declined to AED 370.42 billion on Wednesday from AED 371.86 billion in the prior session.

The developments in the global market are – apparently – affecting the DFM’s performance, vice president of Investment Research at KAMCO Raed Diab told Mubasher.

The market is in a dire need of foreign institutional liquidity, especially that the stock prices have reached attractive levels, he added.


Translated by: Muhammad Khalid

MUBASHER Contribution Time: 05-Sep-2018 11:42 (GMT)
MUBASHER Last Update Time: 05-Sep-2018 11:48 (GMT)