By: Mahmoud Gamal 

Dubai-Mubasher: The Dubai Financial Market (DFM) saw a bearish performance on Sunday, amid decreasing positions in blue chips.

The main index slid 0.62% or 21.88 points to reach 3,491.69 points.

Investors’ anxiety over third-quarter financials and volatile GCC markets pushed the UAE exchanges to decline, according to Jamal Ajaj, director of Al Sharhan Shares Centre in Abu Dhabi.

The consumer staples sector led losers after falling 2.4%, pressured down by Dubai Parks and Resorts which declined 2.4%. The real estate sector also levelled down 0.79% as Union Properties and Emaar Properties retreated 0.8% and 0.7% respectively.

The investment sector slid 0.31% as DFM Company went down 1.5%. The banks sector decreased 0.2% after Dubai Islamic Bank (DIB) tumbled 0.4%.

Trading volume reached 551.79 million shares on Sunday, compared to 266.77 million shares last Thursday. Liquidity stood at AED 759.89 million, compared to AED 384.87 million.

Higher liquidity reflected investors’ selling pressures due to internal factors like he approach of the third-quarter financials, the analyst explained.

Some portfolio investors accumulated some stocks amid the market’s fall on Sunday, Ajaj said.

The analyst advised investors to trade on stocks with good operational performance.

Translated by: Julian Nabil