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DFM trims losses as Emaar gains

DFM trims losses as Emaar gains
Photo Credit: Arabianeye-Reuters

 

Dubai – Mubasher: The Dubai Financial Market (DFM) reduced its losses during Monday’s mid-session after Emaar Properties and Dubai Islamic Bank (DIB) reversed their directions to the green

The DFMGI retreated 0.43% or 17.4 points to 4,051.48 points by 12:10pm UAE time. Turnover reached AED 414 million as 315 million shares were traded through 4,240 transactions.

Earlier today, the DFMGI dropped 0.92% or 37.6 points to 4,031.32 points amid negative performance by the real estate sector’s Emaar and Arabtec as well as Dubai Investments (DI) and Amlak.

Analysts told Mubasher that global and regional stock markets, including the twin UAE ones, are closely watching the developments in the Greek crisis as well as other external factors like the oil prices.

The investment sector led losers, falling 0.79% as DI declined 1.04%, while DFM Company stabilised. The banking sector followed closely, shedding 0.71% as Emirates NBD dropped 2.04%, while DIB trimmed its losses to 0.15%.

The real estate sector slipped 0.39% as Arabtec retreated 0.78%, whereas Emaar Properties entered the green, adding 0.13%.