By: Mahmoud Gamal

Dubai – Mubasher: The general index of the Dubai Financial Market (DFM) marked its fourth successive weekly decline, which is ascribed to the cautious trading resulted from geopolitical tensions and disappointing disclosures.

Market capitalisation went down to AED 343.14 billion over the week, compared to AED 354.85 billion a week earlier.

The general index shed 97.6 points, or 3.65%, to 2,575.01 points.

The DFM’s trading volume reached 396.09 million shares,  while the market’s liquidity hit AED 1.01 billion.

The Emirati markets stabilised after a sharp decline fueled by the selling pressure followed the sabotage of commercial ships near the UAE’s coasts and the drone attacks against two oil pumping stations in Riyadh, vice president of Investment Research at KAMCO Raed Diab told Mubasher.

A state of caution and anticipation is expected to engulf markets until things become clearer, the analyst added.

The investment sector retreated 7.32% after Shuaa Capital dropped 14.82%, while Dubai Investments and DFM company shed 6.8% and 6.7%, respectively.

The real estate decreased by 6.6% in a week, as Arabtec Holding lost 19.6%, while Union Properties went down 13.9% and Emaar Properties declined by 7.9%.

The banking sector sank 4.95%, as Emirates NBD and Dubai Islamic Bank (DIB) lost 6.36% and 3.8%, respectively.

Translated by: Muhammad Abdul-Wakeel