By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) closed Monday’s trading session in the red zone, amid increased sales on blue chips.
The general index fell 1.12% or 38.94 points to reach 3,430.88 points.
The investment sector led losers with a 1.7% decline as SHUAA Capital and DFM Company sank 4.7% and 1.7%, respectively.
The real estate sector declined 1.67% after Emaar Properties and Arabtec Holding levelled down 2.3% and 1.12%, respectively.
The transportation sector fell 0.95% as Air Arabia levelled down 0.95%. The banks sector slid 0.46% after Dubai Islamic Bank (DIB) retreated 0.68%.
The market was weighed by profit-taking on blue-chip and defensive stocks, in line with fears over first-quarter financials, capital market analyst Nawaf Al Ajmi told Mubasher.
Reaching the level of 3,430 points will push the market to continue its fall; however, the market will be stable and attract liquidity if it reaches 3,500 points, he added.
Trading volume reached 135.01 million shares on Monday, compared to 278.25 million shares last Thursday. Turnover amounted to AED 221.54 million, compared to AED 356.58 million.
The market is expected to seee a volatile performance on Tuesday, Al Ajmi added.
Translated by: Julian Nabil
