By: Mahmoud Gamal

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

The general index fell 0.58% or 20.14 points to reach 3,474.73 points.

The market was weighed down by fears over increased losses in global stocks, technical analyst Ahmed Ismail told Mubasher.

The DFM is technically prone to severe fluctuations as most traders shied away from pumping investments, Ismail added.

The market will be controlled by speculations unless the main index moves above 3,520 points, the analyst confirmed.

The real estate sector led losers with a 0.76% decline as Arabtec Holding and Emaar sank 0.7% and 0.3%, respectively.

The investment sector retreated 0.51% after DFM Company levelled down 2.3%.

The banks sector sank 0.4% after DIB tumbled 1.07%. However, Emirates NBD rose 0.73%.

Trading volume reached 165.39 million shares on Wednesday, compared to 144.07 million shares on Tuesday. Turnover amounted to AED 272.5 million, compared to AED 298.19 million.

Translated by: Julian Nabil