Dubai – Mubasher: The Dubai Financial Market (DFM) resumed its negative performance in Wednesday’s early trades amid selling pressure from leading sectors, particularly the real estate, banking and investment sectors.

The DMFGI dropped 49.5 points or 1.4% by 10:20am UAE time to 3,484.78 points, falling below the level of 3,500 points. Around 47.3 million shares were traded through 613 transactions at a value of AED 53.7 million.

The DFM closed in the green on Tuesday, resuming its gains following two sessions of losses, backed by positive performance in the banking, real estate and investment sectors.

Recent market performance has been dominated by speculators and minority investors as investment funds and institutions continue to keep a distance from local markets, analysts told Mubasher.

The transport sector led the losers, sliding 4.34% as Air Arabia plunged 8.2%. The investment sector ranked the sector biggest decliner, falling 2.67% as DFMC and Dubai Investments dropped 3.64% and 2.56%, respectively.

The real estate sector retreated 1.58% as Emaar and Arabtec fell 2.12% and 1.82%, respectively.

The banking sector recorded the least declines, falling 0.41% as Dubai Islamic Bank (DIB) shed 0.86%.

Only the consumer staples and insurance sectors were in the green, rising 0.74% and 0.5%, respectively, while the telecom sector remained unchanged.

Dubai Parks & Resorts added 0.88%, boosting the consumer staples sector, while the insurance sector was backed by Dar Takaful, which topped the DFM gainers, surging by 8.9%.