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Dubai shares halt rally, as investors book gains

Dubai shares halt rally, as investors book gains
DIB
DIB
1.42% 5.71 0.08
Arabtec Holding
ARTC
-3.29% 0.53 -0.02
Emaar
EMAAR
0.63% 8.05 0.05

Shares on the Dubai made its first loss in nine sessions, smacked by a profit-taking streak on blue-chips stocks.

The Dubai benchmark stock index, DMGI, lost 1.16% to 4928.22 points.

“Arabtec and Emaar weighed on the index Thursday, as investors decided to book gains from a sustained market rally,” said Nedal Khouly, head of Gulf Research in Nemma Investment.

Shares in Arabtec and Emaar fell 1.67% and 1.44% respectively, while Dubai Islamic Bank served as another drag reason, falling 1.39%.

Turnover came in AED 1.25 billion, through the trade of 420.6 million shares.