By: Mahmoud Gamal

Dubai – Mubasher: The main index of the Dubai Financial Market (DFM) fell at Sunday’s close by 0.13% or 4.50 points to the level of 3,415.69 points.

The consumer staples sector shrank 3.86% as Marka dropped 8.14%.

The transportation sector retreated 0.24% due to a 2.14% decrease in Gulf Navigation Holding.

The investment sector was 0.10% down, dragged by a 1.7% fall in DFM Company. The banks sector declined 0.09% as Dubai Islamic Bank (DIB) slid 0.34%.

Arabtec and Emaar fell 0.9% and 0.4%, respectively.

Market analyst Gamal Saad that some portfolio investors tended reduce positions in blue chips, pushing the market lower at close.

Saad noted that one of the reasons behind Sunday’s decline was caution, which controlled the market before the announcement of Emaar’s financial statements for the first quarter of fiscal year 2017, in addition to the rights issue of Arabtec that will be tradable on the exchange as of 15 May.

Translated by: Elwy el-Manzalawy