By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Thursday, weighed down by the fall of blue chips.

The general index declined 0.64% or 22.12 points to reach 3,416.71 points.

The market was weighed by investors’ anxiety over first-quarter results, in addition to Emaar Malls Group’s (EMG) annual dividends, Ahmed Ismail told Mubasher.

Investors are awaiting quarterly financial announcements of blue chip companies, especially in real estate, Ismail added.

The investment sector led losers with a 1.84% decline as DFM Company and Dubai Investments sank 2.54% and 2.3%, respectively.

The real estate sector slid 0.94% as EMG retreated 4.8%. The banks sector also tumbled 0.01% after Dubai Islamic Bank (DIB) levelled down 0.34%.

Trading volume reached 255.99 million shares on Thursday, compared to 217.81 million shares on Wednesday. Turnover amounted to AED 344.46 million, compared to AED 310.58 million.

The main index cannot move above its resistance at 3,480-3,520 points due to the lack of internal catalysts, Ismail added.

Translated by: Julian Nabil