The Dubai Financial Market’s (DFM) main index ended Monday in the red, dropping 2.23% to 4186.11 points, its lowest closing since early July. The market suffered strong losses on Emaar’s share following the conclusion of the dividend distribution period.
Experts had told Mubasher that they expect UAE stock markets to continue their negative performance throughout Monday’s session, the first trading session in December, amid the oil price decline added to the conclusion of dividend distribution for Emaar Properties.
Declining, the DFM also witnessed retreating liquidity compared to Sunday’s session, as turnover reached AED 519.43 million as 259.93 million shares were traded through 5334 transactions. A total of 31 companies traded of which, 18 were I the green, 10 were in the red, and eight stabilised at previous levels.
Amanat topped gainers, surging by 11.36% to AED 0.980, nearing its fair value (FV) of AED 1. On the other hand, Emaar Properties topped decliners, dropping 10% to AED 9.540.
The real estate sector retreated by 3.87% following Emaar’s massive decline. Moreover, the banking sector slid by 2.26% as Emirates NBD and Dubai Islamic Bank (DIB) which fell 4.3% and 2.13% to AED 8.610 and AED 6.900, respectively.
Meanwhile, the consumer staples sector topped gainers, surging by 5.35% supported by Marka which rose by 5.6% to AED 1.320.
It is worth noting that UAE markets will suspend trading on Tuesday, December 2 and Wednesday, December 3, on the occasion of the UAE National Day. Trading is set to resume on Thursday, December 4.
Experts had told Mubasher that they expect UAE stock markets to continue their negative performance throughout Monday’s session, the first trading session in December, amid the oil price decline added to the conclusion of dividend distribution for Emaar Properties.
Declining, the DFM also witnessed retreating liquidity compared to Sunday’s session, as turnover reached AED 519.43 million as 259.93 million shares were traded through 5334 transactions. A total of 31 companies traded of which, 18 were I the green, 10 were in the red, and eight stabilised at previous levels.
Amanat topped gainers, surging by 11.36% to AED 0.980, nearing its fair value (FV) of AED 1. On the other hand, Emaar Properties topped decliners, dropping 10% to AED 9.540.
The real estate sector retreated by 3.87% following Emaar’s massive decline. Moreover, the banking sector slid by 2.26% as Emirates NBD and Dubai Islamic Bank (DIB) which fell 4.3% and 2.13% to AED 8.610 and AED 6.900, respectively.
Meanwhile, the consumer staples sector topped gainers, surging by 5.35% supported by Marka which rose by 5.6% to AED 1.320.
It is worth noting that UAE markets will suspend trading on Tuesday, December 2 and Wednesday, December 3, on the occasion of the UAE National Day. Trading is set to resume on Thursday, December 4.
Source:
Mubasher Exclusive
