Dubai – Mubasher: The Dubai Financial Market (DFM) opened in the red on Tuesday, pressured by the transport, telecom and real estate sectors, with Aramex the top loser in early trades.

UAE markets have recently been dominated by speculations, particularly the DFM, which has many high-trading stocks that are easier to control than the Abu Dhabi Exchange (ADX) and has also suffered an absence of real catalysts and institutional investments, said Reda Muslim, director general of Truth Economic Consultancy.

The DFMGI retreated 0.3% or 12 points to 4,140.5 points by 10:05am UAE time.

The DFM is expected to rebound on Tuesday, while the ADX is expected to continue its hold, Muslim said, noting that retreating liquidity amid profit-taking is an indicator of an upcoming quick rebound.

Ranking the top faller among 11 stocks, Aramex dropped 4% to AED 1.57 after 500,000 shares were traded. Air Arabia’s 1.3% losses deepened the transport sector’s fall. Traded volume on the stock reached 50,000 shares.

In the telecom sector, du declined to AED 5.1 after the announcement of retreating profits. A total of 50,000 du shares were exchanged.

In the real estate sector, Union Properties, DAMAC and Emaar shed 0.67%, 0.61% and 0.37%, respectively.

The DFM closed Monday in the red after suffering pressures from the investment sector, led by DFM Company and Dubai Investments (DI) in addition to Emaar Properties.