By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial (DFM) finished the week ended 14 February with a slight drop, amid investors anticipation for the results of leading companies, especially the real estate sector, analysts told Mubasher.

The DFM’s main index fell 9.06 points, or 0.35%, to close the week at 2,533.61 points.

The analysts expected the DFM to continue fluctuation until the leading firms announced their 2018 financial results.

The investment and financial services sector fell 9.78%, followed by the services sector with 6.6%.

The transportation and consumer staples sectors dipped 5.06% and 4.64%, respectively.

The stocks of Dubai Investments, Al Ramz Corporation, SHUAA Capital, Amanat Holdings, and DXB Entertainments slid 12.2%, 9.71%, 2.26%, 9.09%, and 5.32%, respectively.

Union Properties’ stock levelled down 8.86%, while Damac Properties’ stock slumped 7.63%.

On the other hand, the banks sector inched down 0.71% after the heavyweight Emirates NBD’s stock rose 2.5%, while Dubai Islamic Bank’s (DIB) stock grew 1.56%.

The stocks of Emaar Malls and Emaar Development also increased 6% and 3.65%, respectively.

The DFM rose largely due to a rise in blue-chip stocks, especially real estate stocks, after reporting strong profits, vice president of investment research at KAMCO Raed Diab told Mubasher.

This positive trend is forecast to continue over the coming period, Diab added, noting that there are chances for investing in the UAE bourses after leading stocks reached attractive price levels.

From a technical perspective, Diab said that the buying trend, which is currently controlling the DFM, is projected to push the benchmark’s resistance level near 2,600 and 2,700 points.