The Dubai Financial Market (DFM) ended Thursday, the last trading session of the week, in the red, losing 0.36% or 14.96 points and closing at 4171.15 points, registering a decline for the third consecutive session. The DFM shed its morning gains following losses on Emaar Properties’ stock.

Analysts had told Mubasher earlier that Thursday’s session will set the tone for the UAE market’s performance in December. This session is the first after the UAE’s National Day holidays.

DFM losses were accompanied by large liquidity, compared to Monday’s session, with turnover leaping to AED 1.2 billion today compared to AED 519.4 million on Monday.

The real estate sector retreated by 2.6% as Emaar Properties topped losing stocks, plunging by 7.44% to AED 8.830, continuing its market pressures following the conclusion of the dividend distribution.

UAE market analyst Wadah Taha said that excluding profit from Emaar’s stock has resulted in strong pressure on both the stock and the market.

Furthermore, the consumer staples sector topped losing sectors, falling 2.9% as GULFA and Marka dropped 4.86% and 3%, respectively.

On the other hand, the banking sector gained 2.16% as Dubai Islamic Bank (DIB) and Emirates NBD rose by 2.9% and 2.2%, respectively.

The services sector led gaining sectors, surging by 2.27% as Tabreed rose by 2.27% to AED 1.350.

Dar Takaful and Drake and Scull International (DSI) topped gaining stocks, adding 5.49% and 5.05%, respectively.