By: Mahmoud Gamal

Mubasher: The benchmark index of Dubai Financial Market (DFM) declined by 1.7% or 59.9 points to reach 3,461.43 points by the week ended on 23 March.

The real estate segment was the top decliner with a fall of 2.97%, dragged by Emaar which lost 3.2%.

DFM’s turnover shrank to AED 1.2 billion this week from AED 2.48 billion in the previous week.

The trading volume also decreased to total 748 million shares from 1.7 billion a week ago.

The market saw volatility during the week, following the dividend payouts, capital market analyst Jamal Ajjaj said.

The decrease in DFM’s trading volume was a positive indicator for not liquidating major portfolios, he noted, adding that the market is expected to continue with its current trend due to the lack of effective aspects.

He said that investors have received dividends which can be reinvested into DFM, in order to help the market hold.