By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index dropped 2.5%, or 86.8 points, to 3,325.62 points at the end of the week.
The UAE’s markets saw mixed notes during the week on the back of the global markets' decline, Al-Sharhan Centre’s general manager Gamal Agag told Mubasher.
During the last two sessions, the US markets recovered, pushing up the UAE’s bourses, but that was not enough to reverse the recorded losses, Agag added.
The investment sector tumbled 4.24% after Dubai Investments, Dubai Financial Market (DFM), and SHUAA Capital levelled down 4.47%, 3.6%, and 1.7%, respectively.
The real estate sector lost 3.01%, as Emaar Malls and Emaar Properties sank 4.72% to AED 2.22 and 2.11% to AED 6.48, respectively.
Over the week, the banks sector fell 1.2% after Emirates NBD and Commercial Bank of Dubai (CBD) plunged 3.9% to AED 8.45 and 2.5% to AED 4, respectively.
The transportation sector dropped 3.2%, as Gulf Navigation tumbled 3.67%.
The DFM’s trading volume decreased by 28% to 553.45 million shares from 766.96 million the previous week, while the market’s trading volume declined 13.6% to AED 1.2 billion this week, compared to AED 1.39 billion a week earlier.
The international economic situation will have the upper hand among the other factors affecting the UAE’s markets during the coming sessions, the analyst concluded
Translated by: Muhammad Khalid
