By: Thabet Shehata

Dubai – Mubasher: The Dubai Financial Market (DFM) managed to make up for most of its early-morning losses on Tuesday, due to direct support from the real estate sector, led by Arabtec.
The DFMGI inched down by 0.08% or 2.82 points to 3720.4 points, marking its third consecutive decline. Earlier today, the DFMGI dropped by 2.3% one hour after trading, as the prices of 28 stocks fell.
Trading continued to improve compared to previous sessions as 506.2 million shares were traded through 8959 transactions at turnover of AED 873 million.
The real estate sector closed in the green, rising by 0.48% as Arabtec surged by 5.23% to AED 3.020, ranking second top gainer. Yesterday, the DFM announced that the Securities and Commodities Authority (SCA) had approved a buy by Aabar Petroleum Investments representing 2.8% of Arabtec’s stocks.
Tarek Qaqish, Head of Asset Management at Al Mal Capital, noted that the recent fluctuation in UAE markets is considered normal in the absence of institutional investment added to the domination of retail investors.
UAE markets are more likely to suffer changes and jitteriness than other markets due to foreign investment added to its connection with regional and global markets, Qaqish told Mubasher in a comment via phone, adding that the DFM saw significant movement on stocks like Arabtec.
On the other hand, Union Properties incurred selling pressures after the Company announced a decline in its net profits for FY14 compared to profits from FY13. This decline could be due to the re-evaluation of assets compared to the year before.
Meanwhile, the consumer staples sector topped the five falling sectors, shedding 1.2% as Marka dropped 3.85% to AED 1.250. The banking and investment sectors lost 0.79% and 0.21%, whereas the telecom sector topped gainers, adding 0.8%.
Takaful Emarat topped losers falling 7.6% to AED 0.581, followed by Union Properties, which lost 5.8% to AED 1.130. Emirates NBD, Emaar Properties, DFMC, and Dubai Investments (DI) all ended in the red, falling 3.74%, 0.71%, 0.51% and 0.45%, respectively.
The positive outlook for UAE markets in the coming period is due to the improved performance of the Saudi stock exchange added to the continued anticipation of companies’ financials, Qaqish concluded in his statement to Mubasher.

Translated by: Nada Adel Sobhi