By: Mahmoud Gamal

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

The general index retreated 0.98% or 33.80 points to reach 3,418.30 points.

The investment sector led losers with a 2.32% decrease as SHUAA Capital and DFM Company levelled down 8.33% and 3.42%, respectively.

The banks sector retreated 1.26% after Mashreq Bank and Dubai Islamic Bank (DIB) fell 9.21% and 0.69%, respectively.

The real estate sector went down 0.72% as Drake and Scull International (DSI), Arabtec Holding, and Emaar Properties sank 5.5%, 1.35%, and 0.38%, respectively.

The market saw lower-than-expected turnover as investors are shying away from trading, according to Eyad Al Bariqi, trading director of Al Ansari Financial Services.

The market saw trading of 159.34 million shares through 2,700 transactions, with a turnover of AED 233.25 million.

Listed companies are expected to see good results for the first half of 2017 and in line with expectations,  Al Bariqi noted.

Translated by: Julian Nabil