By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Sunday, weighed down by blue chips topped by Dubai Islamic Bank (DIB) and Emaar Properties.

The general index fell 0.80% or 28.22 points to reach 3,493.11 points.

The market was weighed down by investors’ anxiety over the impact of the interest rate rise on the UAE's main sectors, capital market analyst Salam Saeed told Mubasher.

The market is prone to fluctuations especially because most traders tend to speculate and avoid pumping new investments into the market, Saeed added.

The real estate sector led losers with a 1.7% decline as Emaar Properties and Drake and Scull International (DSI) sank 2.7% and 1.9%, respectively.

The investment sector retreated 1.08% after Dubai Investments tumbled 1.23%.

On the flipside, the banks sector rose 0.31% as Emirates NBD and Dubai Islamic Bank (DIB) sank 3.03% and 0.7%, respectively.

Trading volume reached 202.2 million shares on Sunday, compared to 236.21 million shares on Thursday. Turnover amounted to AED 383.82 million, compared to AED 591.73 million.

Translated by: Julian Nabil