The Dubai Financial Market’s (DFM) general index closed Thursday’s trading session in red territory, after falling 55.31 points, or 1.97%, to 2,755.32 points, recording its sharpest daily losses in three months.
The DFM saw a negative performance by the end of the last session of this week due to the US and European stock markets’ grave losses on Wednesday, director of Al Sharhan Shares Centre Jamal Ajaj told Mubasher.
The DFM and the Abu Dhabi Securities Exchange (ADX) are following the downward trajectory of the international bourses, while they do not follow their positive performance, Ajaj added.
The investment and financial services sector was the worst performer with 2.45% after Dubai Investments’ stock decreased by 2.83% to AED 1.720, while the real estate sector went down 2.39% after the stocks of Drake and Scull International (DSI) and Damac Properties fell 4.69% and 4.43%, respectively.
The banks sector levelled down 1.99% as Emirates NBD’s stock went down 2.43% to AED 9.25, while the telecommunication sector and its only stock Emirates Integrated Telecommunications Company (du) dipped 1.21% each.
The transportation sector declined 1.19% as Aramex’s stock dropped 2.94% to AED 3.96, while the services sector inched down 0.49% after Amanat Holding’s stock shed 0.87% to AED 1.14.
The DFM’s trading volume stood at 284.21 million shares on Thursday, up from 216.3 million on Wednesday, while traded value jumped to AED 253.63 million, from AED 150.15 million.
Islamic Arab Insurance Company’s (Salama) stock, which added 4.26% to finish at AED 0.661, was the most active after 94.39 million shares were exchanged, generating AED 61.34 million in a turnover.