DFM slips in week ahead of Eid Al Fitr vacation

By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index slipped 3.5 points, or 0.11%, to 3,038.23 points in the week ended 14 June.

The investment sector shed 2.27% after Dubai Investments declined 3.28% to AED 2.06, while the DFM Company sank 1.8%.

The Transportation sector fell 2.05%, as Aramex tumbled 3.7% to AED 3.9.

On the other hand, the real estate sector grew 0.71%, after Emaar Properties added 1.08% to AED 5.6.

Over the week, the DFM suffered a trend of profit-taking, which was not unexpected, especially before the Eid Al-Fitr holidays, technical analyst Mohamed Radwan commented.

The oil price recovery added to the government's recent economic decisions will support the UAE markets in the coming period, Radwan added.

The DFM’s trading volume reached 201.32 million shares during the week, while the market’s liquidity amounted to AED 437.13 million.

 

Translated by: Muhammad Khalid

Mubasher Contribution Time: 14-Jun-2018 12:58 (GMT)
Mubasher Last Update Time: 14-Jun-2018 13:09 (GMT)

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