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DFM loses AED 1.16bn in 2020’s first week

DFM loses AED 1.16bn in 2020’s first week
The consumer staples sectors dropped 5.8%

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index declined by 19.83 points, or 0.7%, to hit 2,749.26 points in the first week in 2020, dragged down by recent developments that compromised stability in the Middle East.

Market capitalisation decreased by AED 1.16 billion to AED 373.5 billion over the week, compared to AED 374.66 billion in the previous week.

The consumer staples sectors dropped 5.8%, while the investment sector lost 3.1%. The real estate sector shed 0.8% and the banking sector inched down 0.03%.

DXB Entertainments plunged 7% and Shuaa Capital plummeted 6.2%. Emirates NBD, Dubai Investments, and Emaar Development shed 1.5%, 2.3%, and 1%, respectively.

At the other hand of the spectrum, Dubai Islamic Bank added 0.5% and Emaar Properties gained 0.2%.