Dubai - Mubasher: Emaar Porperties’ stock saw a negative performance mid-session on Tuesday after the company denied reports of a new project in Turkey.

The Dubai-listed stock reversed the uptrend it maintained for eight straight sessions, falling 0.54% to AED 7.4 by 11:40am UAE time, generating AED 32.82 million from the exchange of 4.43 million shares.

Emaar Properties has denied news that it was developing a $1 billion tourism and commercial project in Turkey’s Trabzon.

Dubai bourse’s benchmark index shrugged off the stock’s decline, rising 0.11% at the same time. The market saw trading of 209.74 million shares, with a turnover of AED 304.12 million.