By: Mahmoud Gamal

Dubai-Mubasher: The Dubai Financial Market (DFM) closed Tuesday’s trading session at a decline, amid profit-taking on transportation, real estate and investment stocks.

The general index retreated 0.04% or 1.46 points to reach 3,533.83 points.

The transportation sector led losers after falling 1.1% as Air Arabia slid 1.4%. Likewise, the consumer staples sector went down 0.6% due to a decline in Dubai Parks and Resorts by 0.6%.

The real estate sector fell 0.5% as Emaar Properties and Arabtec Holding decreased 0.8% and 0.7% respectively. Similarly, the investment sector retreated 0.37% as SHUAA Capital and Dubai Investments decreased 1.24% and 0.5% respectively.

On the flipside, the banks sector advanced 1.18% as GFH Holding topped gainers with a 5.03% rise.

Trading volume reached 267.18 million shares on Tuesday, compared to 171.41 million shares on Monday. Turnover stood at AED 322.37 million, compared to AED 215.49 million.

Investors tended to decrease their positions to gain any profit margin amid fears over volatile oil prices, according to capital market analyst Salam Saeed.

The market’s volatility was mainly attributed to the prospect of US interest rates increasing this year, Saeed noted.

However, the analyst expected the market to see a recovery next week.

The general index is expected to continue its fluctuations between 3,400 and 3,600 points till the end of this week, Saeed noted.

Translated by: Julian Nabil