By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index shed 4.52 points, or 0.14%, to 3,192.78 points on Sunday due to the lack of market-boosting catalysts.

The telecommunication sector and its only stock, du, lost 0.39% each.

The banks sector went down 0.33%, as Emirates NBD and Dubai Islamic Bank (DIB) sank 0.48% and 0.36%, respectively.

The real estate sector fell 0.22% after Emaar Properties, Damac Properties, and Drake and Scull International (DSI) levelled down 1.85% to AED 5.85, 1.82% to AED 3.12, and 1.11% to AED 1.78, respectively. 

The investment sector declined 0.21%, as Shuaa Capital and Dubai Investments decreased by 0.9% to AED 1.08 and 0.46% to AED 2.16, respectively. 

Today’s session was not any different from the last sessions, as the market’s liquidity is still low – and will, probably, remain low until a group of fresh market-moving catalysts emerge, technical analyst Ahmad Sabha said.

The Emirati and the Saudi markets have proved to be correlated in some way or another; hence, the former’s growth will reflect on the latter, boosting both Dubai and Abu Dhabi markets, Sabha added.

The DFM’s trading volume shrank to 114.67 million shares from 172.88 million on Thursday, while the market’s liquidity dropped to AED 199.86 million versus AED 361.69 million in the previous session.

GFH Group, which added 1.39% to AED 1.46, topped the DFM in terms of both trading volume and liquidity, with a turnover of AED 41.76 million and 28.68 million traded shares.

Translated by: Muhammad Khalid