By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Wednesday, weighed down by selling pressures.

The general index declined 0.36% or 12.09 points to reach 3,351.51 points.

The market was pressured by profit-taking on blue chips and defensive stocks amid a lack of new catalysts, capital market analyst Mohamed Saeed told Mubasher.

The consumers staples sector led losers with a 2.7% decline as DXB Entertainments fell 3% to AED 0.782, its lowest level in 26 months.

Investors still have fears over the performance of some companies, like DXB Entertainments which posted losses that were higher than its capital, Saeed explained.

The investment sector declined 1.1% as DFM Company and Dubai Investments slid 1.8% and 1.4%, respectively.

The transportation sector sank 1.03% as Aramex decreased 1.8%. The real estate sector levelled down 0.52% after Emaar Properties tumbled 0.8%.

Trading volume reached 233.6 million shares on Wednesday, compared to 200.28 million shares on Tuesday.

The market is expected to near 3,320 points in the coming sessions, Saeed explained.

Translated by: Julian Nabil