Profit-taking weighs on DFM Wednesday

Profit-taking weighs on DFM Wednesday
The DFM’s general index tumbled 1.12% to 2,583.74 points

Dubai – Mubasher: The Dubai Financial Market (DFM) has resumed the bearish trend on Wednesday as some of the blue-chip stocks saw a wave of profit-taking.

By the end of Wednesday’s trading session, the DFM’s general index tumbled 1.12% to 2,583.74 points.

The consumer goods sector led the fallers with a 4.3% decrease as DXB Entertainments’ stock fell by the same percentage, followed by the investment sector which dipped 3.3%.

Similarly, the real estate sector slid 7.03% as Arabtec dropped 7.03% to AED 1.72 and DAMAC shed 1.2% to AED 0.90.

On the other hand, the services sector headed the gainers with a 5.9% increase, mainly backed by Amanat’s stock which jumped by 9.43% to AED 1.01.

Moreover, the insurance and the telecommunication sectors edged up 0.45% and 0.39, respectively.

Trading volume amounted to nearly 131.45 million shares exchanged through 2,436 transactions at a turnover of AED 163.06 million.