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DFM records 4-session low Thursday

DFM records 4-session low Thursday
The banks sector decreased by 0.91%

By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index lost about 5.6 points, or 0.18%, to close at 3,082.09 points on Thursday, its fourth successive decline, with low trading volume and liquidity.

The general index saw resistance at 3,081 points, but it could not break above this level, capital market analyst Mohamed Al Azmi commented.

Stock prices were down, as many investors tended to sell a group of stocks, on top of which blue chips, Al Azmi added.

The consumer staples sector shed around 1.33% after DXB Entertainments sank 1.8% to AED 0.435.

The banks sector decreased by 0.91%, as Dubai Islamic Bank (DIB) fell 1.98% to AED 5.44, while the transportation sector went down 0.54% after Aramex sank 0.98% to AED 4.05.

The telecommunication sector and its only stock, du, shed 0.2% each.

On the other hand, the investment sector grew 1.15%, as Dubai Investments rose 1.94% and Shuaa increased by 1%.

The trading volume shrank to 78.3 million shares from 114.8 million on Wednesday, while the liquidity tumbled to AED 165.29 million versus AED 255.25 million in the previous session.

DIB topped the DFM in terms of both volume and value, with 11.05 million traded shares and a turnover of AED 59.53 million.

 

Translated by: Muhammad Khalid