Dubai – Mubasher: Gains achieved by Emaar and Dubai Islamic Bank (DIB) on Sunday cut early declines on the Dubai Financial Market (DFM), which was weighed down by pressures on Arabtec following the company’s announcement of its financials for 2014.

The DFMGI fell 0.14% or 4.7 points to 3,468.73 points by 10:30am UAE time, resuming its losses after Thursday’s gains. Turnover reached AED 68 million as 46 million shares were exchanged through 903 transactions.

The DFM ended last week at its highest monthly level since January, backed by real estate stocks, mainly Emaar, in addition to banking and investment stocks.

Emaar grew 1.2% to AED 6.65 after 3.3 million shares changed hands, while DIB rose 1.07%.

UAE markets need catalysts such as positive financial results for the first quarter, a return of liquidity and improved oil prices in order to take a breather, analysts told Mubasher.

Arabtec led the losing stocks, plunging 5.72% to AED 2.470 and bringing the real estate sector down by 0.64%, despite Emaar’s 1.2% rise.

The transport sector led the losers, falling 0.8% as Aramex and Air Arabia retreated 0.92% and 0.68%, respectively.

On the other hand, the telecom sector led the three rising sectors, adding 0.99% as du rose to AED 5.100.

The banking sector increased 0.4%, backed by DIB’s 1.07% gains, while the investment sector added 0.14% as Dubai Investments grew 0.44%.