By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market (DFM) saw a negative performance on Tuesday, backed by profit-taking on blue chips .

The general index fell 0.18% or 6.27 points to reach 3,452.10 points.

The market saw profit-taking which is normal ahead of the Eid Al Fitr holiday, according to Wadah Al-Taha, member of the National Advisory Board of Chartered Institute for Securities and Investments (CISI).

The insurance sector led losers with a 0.71% as Takaful Al Emarat went down 3.8%.

The real estate sector declined 0.5% after Drake and Scull International (DSI), Arabtec Holding, and Emaar Properties retreated 3.02%, 1.5%, and 0.62%, respectively.

The investment sector retreated 0.20% as SHUAA Capital and Gulf General Investment Company sank 2.22% and 0.76%, respectively.

On the other hand, the services sector topped gainers with a 1.83% rise as Tabreed grew 3.8%.

The market generated AED 308.53 million after trading 190.3 million shares through 2,905 transactions.

The market is expected to decline further to 3,430 points, technical analyst Mohamed Saeed said.

Translated by: Julian Nabil