DFMGI slips on profit-taking Thursday ahead of Eid holiday

By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index shed 12.91 points, or 0.42%, to close at 3,038.23 points on Thursday, on the back of an ongoing profit-taking trend.

The continuous profit-taking trend stemmed from foreigners' tendency to sell their shares after two weeks of purchases, technical analyst Gamal Abdul Hamid told Mubasher.

Following the recent government stimulant decisions, UAE markets are expected to attract more investments, which will enable them to grow afterwards, Abdul Hamid added.

The investment sector lost 2.12% after Dubai Investments tumbled 2.83% to AED 2.06. The transportation sector declined 1.23%, as Aramex went down 2.5% to AED 3.9, while the real estate sector sank 0.45%, as Damac Properties fell 1.2% and Emaar Properties shed 0.8% to AED 5.6.

The DFM’s trading volume reached 131.28 million shares, while the market’s liquidity hit AED 302.46 million.

Dubai Islamic Bank (DIB) topped the DFM in terms of both volume and value, with 16.28 million shares and a turnover of AED 82.82 million.

The three-day Eid Al Fitr holiday concludes on Sunday, with trading activities to resume on Monday.

 

Translated by: Muhammad Khalid

Mubasher Contribution Time: 14-Jun-2018 12:00 (GMT)
Mubasher Last Update Time: 14-Jun-2018 12:15 (GMT)

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