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DFM down on Emirates NBD, Emaar in early trades

DFM down on Emirates NBD, Emaar in early trades
Photo Credit: Arabianeye-Reuters

Dubai-Mubasher: The Dubai Financial Market (DFM) resumed its losses in Sunday's early trades, pressured by the real estate, banking and investment sectors.

The DFMGI lost 0.23% or 9.63 points to 4,109 points by 10:30am UAE time.

Jittery liquidity weakens technical readings and makes gains “weak,” often resulting in profit-taking, analysts previously told Mubasher.

The services sector topped losers by 1.5%, weighed by Amanat Holdings and National Central Cooling Co., which fell 1.6% and 1.3%, respectively.

The investment sector inched down 0.4% due to a decline in Dubai Investments and DFM Company by 0.33% and 0.5%, respectively.

The real estate sector levelled down 0.38% as Arabtec Holding retreated 2.08%.

The banking sector decreased 0.36% as Emirates NBD fell 1.52%. However, Dubai Islamic Bank rose 0.3%.

Trading volume reached 49 million shares, at a turnover of AED 83.53 million executed through 851 transactions.