DFM General Index down by 3.75%

Foreign investors net DFM buyers by AED 12.55 mln

Dubai Financial Market General Index (DFMGI) ended on a negative note today, falling 3.57%, or more than 65 pts, to settle at 1756.16, hurt by profit takings.

Real Estate and Transportation stocks contributed to today’s downtrend. Whereas investors’ concerns over fluctuations of the global economic recovery were fueled by oil prices sliding to approx. $66 pb.

Trading volume tumbled approx. 41%, to 242.09 million shares, compared to 408.1 million shares on Thursday.

Similarly, trading value sank more than 38%, from AED 560.1 million to AED 342.5 million, generated from executing 5335 transactions.

Non-Arab foreign investors bought shares at a net value of approx. AED 27.42 million on Dubai Financial Market (DFM) today, and sold stocks amounting to almost AED 38.70 million.

Non-GCC Arabs purchased stocks worth around AED 101.92 million, compared to about AED 76.63 million worth of sell transactions.

GCC traders bought shares at a value totaling AED 22.33 million, and sold stocks at a total value of nearly AED 23.79 million.

Accordingly, non-UAE foreign investors purchased shares at a net value of approx. AED 151.66 million, accounting for 44.28% of total buy transactions, while their sell transactions totaled about AED 139.12 million, representing 40.62% of total sell trades.

Consequently, foreign investment netted approx. AED 12.55 million as a buy turnover.

Total 22 out of 24 traded stocks ended in the red, whereas Ekttitab Holding and Al Salam- Sudan Bank were the only gainers, rising 3.03% and 1.87% in a row.

Takaful House led decliners, plummeting 7.23% to close at AED 2.18, followed by Emaar that ended 7.14% down at AED 2.60 upon trading more than 34.8 million shares.

Aramex came 3rd, shedding 7.09% to AED 1.31, with a trading volume nearing 19.4 million shares.

Other stocks declined less than 7%. Deyaar Development went down 5.13%, while Arabtec slid 4.68%.

Drake & Scull topped most actives by a trading volume upon trading more than 39.2 million shares. However, the stock retreated approx. 2.2% to AED 0.89.

Most sectors ended in the red, led by Real Estate & Construction that slumped 6.08%, followed by Transportation (4.17%), Telecommunication (3.70%), and Insurance (1.73).