Dubai – Mubasher: The Dubai Financial Market (DFM) continued its downward movement mid-session on Tuesday, following a wave of declines that hit all of the market’s sectors, following three sessions of gains, during which the index passed the level of 3900 points and headed for the 4000-point level.

Only three stocks succeeded in breaking free from the declines, led by Emirates NBD, which rose by 1.63%, followed by Al Salam Holding and Marka, which added 1.24% and 0.73%, respectively. Meanwhile, 23 stocks were in the red.

The DFMGI fell 0.69% or 27.39 points to 3914 points as 176.139 million shares were traded at a turnover of AED 273 million.

The investment sector lost 1.31%, bring the DFMGI down, as SHUAA Capital, Gulf Finance House (GFH), DFMC and Dubai Investments fell 2.84%, 1.94%, 1.46% and 1.19%, respectively.

The real estate sector deepened the Dubai market’s losses, after falling by 1% as DAMAC topped losers, plunging by 9.68%. Moreover, Arabtec and Emaar Properties retreated by 1.25% and 1.09%, respectively.

The banking sector lost 0.21% as Dubai Islamic Bank (DIB) and Ajman Bank fell 1.14% and 0.81%, respectively. Moreover, the telecoms sector was pressured by du and both lost 0.39%.

Analysts told Mubasher that UAE markets are expected to see profit-taking on Tuesday, following the successive gains, particularly by speculators who seek quick profits and do not look ahead towards receiving the dividends.