Dubai shares fall 1.44%

Foreign investors net DFM sellers by AED 3.71 mln

Dubai Financial Market General Index (DFMGI) ended Wednesday on a negative note, sliding approx. 1.44% to 2147.21 points. The Index witnessed fluctuations till mid-session, hitting an intraday low of 2143.62 pts.

Trading volume declined to approx. 155.6 million shares, compared to 232.4 million yesterday. Turnover also dropped from AED 567.5 million to almost AED 323.3 million, generated through 3532 transactions.

Total 23 out of 28 traded securities headed south, two headed north, while three remained unchanged.

Gulf Finance House (GFH) was the worst performer, plunging 5.67% to AED 1.33. Al Madina came second, diving 4.95% to AED 0.96, followed by Ekttitab that lost 3.90% to AED 0.74.

Emaar, which retreated 1.56% to AED 4.43, led most actives, after trading around 31.7 million shares at AED 141.7 million. Dubai Financial Market Co. (DFMC) closed 1.30% lower at AED 2.27. It ranked third among most actives, as about 17 million shares were exchanged at a total value of AED 38.9 million.

On the downward level, Gulf Navigation topped gainers, rising 1.41% to AED 0.72. The stock took the second position among actives, after more than 17.9 million shares were traded at roughly AED 12.7 million. AMAN followed, inching up 0.84% to AED 1.20.

Sectors ended collectively in the red, led by Telecommunications that shed 3.05%, followed by Investment & Financial Services (1.55%), Banks (1.48%) and Insurance (0.32%).