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23 May 2024

Selling pressures pull down stocks

By Staff Writer

The Dubai bourse continued its downward trend yesterday for the second session and lost 9.07 points, or 0.58 per cent, closing at 1558.98 points.

The index of Dubai Financial Market (DFM) fluctuated sharply during the session, opening with a gap up and quickly losing all its gains. By midday, the index widened its losses to more than 30 points before it bounced back sharply and gained more than 20 points. However, during the last hour of trading, the market retreated again and ended on the down side.

Turnover declined sharply compared to the past few sessions.