By: Enas Bahgat
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general market tumbled 94.83 points, or 3.12%, to close at 2,947.99 points in a week, dragged down by speculations.
Over the week, the DFM’s trading volume reached 602.15 million shares, while the market’s liquidity hit AED 846.93 million.
The bank’s sector shed 0.75% after Emirates NBD lost 2.8%, while GFH went down 1.6%.
The real estate sector dropped 5.27%, as Drake and Scull International (DSI) plunged 20%, while Damac Properties, Arabtec Holding, and Emaar Properties levelled down 13.8%, 10%, and 3.1%, respectively.
Traders should be careful with speculations and should not take hasty decisions, member of the UK's Society of Technical Analysts Osama Al Ashry told Mubasher.
Most blue chips reported positive results whether in the last quarter of 2017 or the first quarter of 2018, the managing director of asset management at MENACORP Tariq Qaqish told Mubasher.
However, the negative news is still affecting investors’ morale, including reports regarding Marka’s restructuring programme, Qaqish added.
Translated by: Muhammad Khalid
