Dubai – Mubasher: The Dubai Financial Market (DFM) quickly went back to its negative performance, closing in the red on Wednesday, weighed down by the real estate sector’s Arabtec and Emaar Properties, alongside the investment and telecom sectors.

The DFMGI shed 1.44% or 51 points and closed at 3,507.27 points, maintaining its positive above 3,500 points, which it regained on Tuesday. Turnover declined to AED 640.77 million ($176 million) from AED 1.13 billion on Tuesday ($308 million) on Tuesday, while traded volume reached 424 million shares, down from 721 million in the previous session.

Earlier today, analysts told Mubasher that UAE stock markets are likely to continue recovering from the recent losses after news that global market indices are also seeing a recovery, while oil prices remain stable.

The investment sector led losers, sliding 4% pressured by Dubai Investments (DI), which dropped 3.73%. Moreover, all other stocks in the sector ended the session in the red.

The real estate sector fell 2.13% after Arabtec plunged 4% and Emaar lost 1.74%, while the telecom sector slipped 0.2% as du saw a similar decline to AED 5.

On the other hand, the banking sector was the only riser, adding 0.42% backed by Dubai Islamic Bank (DIB) and Emirates NBD which grew 0.91% and 0.69%, respectively.

On Tuesday, the DFM soared 4.6% or 156.75 points and closed at 3,558.37 points, backed by positive performance in its leading sectors following news of stability among global stocks.