Dubai-Mubasher: The UAE stock markets saw a negative performance on Wednesday morning, weighed by Emaar Properties, Arabtec Holding, Emirates NBD, First Gulf Bank (FGB), Aldar Properties and Etisalat.
Dubai Financial Market (DFM) lost 1.6% or 50.7 points to reach 3,141.12 points by 10:50am UAE time.
In Dubai’s market, Emirates NBD declined 4.13%, followed by Dubai Investments, Emaar Properties and Arabtec Holding at 2.08%, 2.06% and 1.7%, respectively.
The market saw trading of 249.38 million shares through 2,380 transactions, with turnover of AED 202.5 million.
Abu Dhabi Securities Exchange (ADX) decreased 0.84% or 36.24 points to reach 4,277.33 points. Blue-chips Emirates NBD, Emaar Properties and Arabtec Holding lost 4.13%, 2.06% and 1.07%, respectively.
As Abu Dhabi market’s main index fell below 4,303 points, its support level stands at 4,267-4,290 points, said Ahmed Al-Shamsi, head of technical analysis at Traders Chamber.
He added the index should stay above 4,246 points to see an upward trend.
Aldar Properties levelled down 2.01%, followed by First Gulf Bank (FGB) and Etisalat at 0.78% and 0.3%, respectively.
Turnover reached AED 69.16 million after trading 74.63 million shares through 541 transactions.
