By: Mahmoud Gamal

Dubai – Mubasher: The cash dividend distributions for the year ended 31 December 2018 has played a vital role in restoring the upward performance of the UAE bourses.

Cash dividends of the banks operating in the UAE hiked 12.2% year-on-year to AED 18.7 billion.

The UAE bourses are seeing a wait-and-see mode, which justifies thin liquidity levels in the markets, senior financial analyst at Menacorp Financial Services Issam Kassabieh told Mubasher.

The DFM

The Dubai Financial Market (DFM) closed Wednesday’s trading session in the red territory due to selling pressures.

The DFM’s general index inched down 0.4% to finish the session at 2,626.13 points.

Turnover amounted to AED 129.8 million after 87 million shares exchanged hands through 2,085 transactions.

The services sector topped losers with 2.5% as Amanat plunged 4%, while the consumer staples sector retreated 2.08% on the back of DXB Entertainments’ 2.5% drop.

Similarly, the investments sector went down 1.64% and the banks sector plunged 0.345.