Dubai – Mubasher: The Dubai Financial Market (DFM) closed Thursday, the last trading session of the week, down slightly, pressured by selling on Emaar Properties and Dubai Islamic Bank (DIB).

The DFGMI slipped 0.2% or 6.93 points to close at 3,575.32 points.

The services sector led fallers, losing 1.5% after Amanat retreated 2%, while the real estate sector shed 0.9% after Emaar Properties dropped 1.1% on the back of news that it was not planning to launch an initial public offering (IPO) for its global business.

The transport sector edged down 0.12% after Gulf Navigation declined 2.14%.

Commenting on the DFM’s performance on Thursday, market analyst Nawwaf Al Ajmi told Mubasher that several leading and defensive stocks suffered profit taking at the end of the week following strong gains.

Despite the declines, several portfolios have continued to increase their positions in several stocks which are currently at good price levels, the analyst added.

On the positive side, the investment sector grew 2.24% after SHUAA Capital’s stock surged 13.2% after the company announced its acquisition of two companies.

Should the DFMGI fall back towards 3,600 points, further drops are expected towards 3,550 points where it will see stability and attract new liquidity, Al Ajmi told Mubasher.