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DFM shuts in red as Arabtec, Emaar weigh

DFM shuts in red as Arabtec, Emaar weigh
Photo Credit: Arabianeye - Reuters

Dubai – Mubasher: Dubai Financial Market (DFM) ended Tuesday’s session in the negative territory, hurt by Arabtec and Emaar stocks.

The benchmark index ADI lost 0.57% or 23.42 points to close at 4096.63 points.

The market turnover fell to around AED 362 million ($98.55 million), compared with AED 341.46 million ($92.96 million).

Meanwhile, traded volume rose to 216.5 million shares, from 187.8 million shares.

Market capitalisation amounted to AED 384.157 billion ($104.93 billion), down from AED 385.44 billion ($104.6 billion).

The insurance sector was the biggest drag, falling 2.42%, while telecoms slid 2.2% to take the second position.

The investment sector was down 1.3%, pressured by Dubai Investment and DFM Company that dropped by 1.06% and 1.55% respectively.

The real estate sector lost 0.84% after Arabtec led decliners with a fall of 2.6%. Emaar sagged 0.88%, while Emaar Malls was in green.

Meanwhile, the banks sector shut 0.11% higher, as Ajman Bank and Emirates NBD added 1.05% and 0.99% in a row. DIB and Amlak moved down by 0.13% and 1.87% in a row.