By: Enas Bahgat

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index lost 126.17 points, or 4.13%, to 2,928.17 points in a week on the back of profit-taking.

The DFM’s trading volume reached 288.41 million shares, while the market’s liquidity hit AED 436.65 million.

The banks sector shed 2.07%, as Ithmaar dropped 6.5%, while Dubai Islamic Bank (DIB) sank 2.3% and Emirates NBD declined 1%.

The real estate sector went down 5.42%, as Drake and Scull International (DSI) plunged 8.5%, while Emaar Properties and Union Properties decreased by 6.6% and 4.5%, respectively.

The investment sector fell 6.14% after Dubai Investments dropped 6.5%.

Following Eid Al-Fitr holiday, investors began to sell their shares, seeking to gain more profits, Wadah Al-Taha, member of the National Advisory Board of Chartered Institute for Securities &Investments (CISI) told Mubasher.

The DFM’s loses over the week came hand in hand with the latest development in the trade war between China and the US, Al-Taha added.

Translated by: Muhammad Khalid