The Dubai Financial Market’s (DFM) general index lost 9.37 points, or 0.29%, to close at 3,183.41 points on Monday on the back of the selective buying of blue chips.
The UAE markets are still seeing a negative trend amid low liquidity and weakened morale, the financial analyst at Mena Corp Issam Kassabieh told Mubasher.
Some blue chips grew humbly, but they did not succeed in pushing up the DFMGI, Kassabieh added, noting that the approved dividends will be paid to eligible shareholders in the coming days, which could boost the markets.
The banks sector shed 1.42% after Dubai Islamic Bank (DIB) went down 2.5% to AED 5.44, while the services sector sank 0.9%, as Tabreed fell 1.2% to AED 1.62.
In a similar vein, the transportation sector declined 0.27% after Air Arabia decreased by 0.76% to AED 1.3, while the investment sector lost 0.23% after Dubai Investments sank 0.46% to AED 2.15.
By contrast, the real estate sector grew 0.5%, as Emaar Development, Emaar Malls, and Emaar Properties added 2.5% to AED 5.39, 1.37% to AED 2.2, and 0.5% to AED 5.88, respectively.
The DFM’s trading volume shrank to 106.98 million shares from 114.67 million on Sunday, while the market’s liquidity levelled down to AED 186.9 million versus AED 199.86 million in the previous session.
Ithmaar Holding, which fell 0.68%, topped the DFM in terms of volume, with 25.23 million traded shares, while Emaar Properties led the market in terms of liquidity, with a turnover of AED 31.98 million.