By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index lost 101.83 points, or 3.32%, to close at 2,964.13 points in May.
Over the month, the DFM saw a sideways-to-negative performance amid cautious trading and selling pressure in May, technical analyst Gamal Abdul Hamid told Mubasher.
The market will undergo a positive technical correction in June, as stocks have reached attractive prices, Abdul Hamid added.
The real estate sector dropped 8.33% after Emaar Properties’ plunged 10.2% to AED 5.2, while Arabtec Holding and Emaar development tumbled 4.4% and 4.5%, respectively.
The banks sector decreased by 0.35%, as Emirates NBD dropped 7.4% to AED 10.
On the other hand, the investment sector surged 8.5% after the DFM Company soared 10.2% and Dubai Investment jumped 8.4% to AED 2.06.
The consumer staples sector increased by 7.77%, as DXB Entertainments went up 8.5% to AED 0.419.
The DFM’s trading volume reached 3.62 billion shares in May, while the market’s liquidity hit AED 5.5 billion.
Translated by: Muhammad Khalid
