Dubai benchmark nears 1600 pts


Dubai Financial Market General Index (DFMGI) shut today’s session with a remarkable retreat of 0.60%, or 10 points to 1609.22. It opened with a downturn, then extended the losing streak to hit an intraday low of 1605.68 pts.

Around 45.4 million shares were exchanged in 1009 transactions, at a gross value of approx. AED 74.4 million.

Out of the 25 companies traded today, losers eclipsed gainers by 15 to 6, while 4 remained unchanged.

GGICO biggest drag, Salam Bank Sudan top gainer

Tracking stock performance, investment firm GGICO was the top mover to the downside, dropping 3% to AED 0.485, followed by district cooling company Tabreed that ended 2.48% lower at AED 1.57. Logistic services provider Aramex came third, pulling back 2.40% to AED 2.03.

On the bullish front, Al Salam Bank Sudan was best performer, soaring 6.41% to AED 1.66. Engineering contractor DSI came second, adding 0.93% to AED 1.08, followed by Takaful House that was ahead 0.72% at AED 0.972.

Emaar most active by turnover, Air Arabia by volume

Property developer Emaar, which fell 1.16% to AED 3.40, was the top active with traded value of AED 27.1 million, generated from exchanging more than 7.9 million shares. Easing off 0.36% to AED 0.834, low-cost carrier Air Arabia took the lead with a traded volume of more than 10.3 million shares that changed hands at a gross value of AED 8.6 million.

Sector roundup

Six sectors ended in the minus column, led by Utilities that moved 2.48% down. It was followed by Transportation (1.26%), Real Estate & Construction (0.90%), while Insurance was the least hurt, inching down 0.04%. Telecommunication was the sole advancer, slightly rising 0.33%, while the other two sectors were stuck in neutral.


Please enter your comment!
Please enter your name here