Lacklustre trading on Dubai bourse

Dubai Financial Market (DFM) dipped marginally on Wednesday on the back of lacklustre trading, with the benchmark index down by 5.76 points or 0.39 per cent to close at 1481.52.

Except banking, all sectoral indices ended in the red. Index heavyweights such as Arabtec, Emaar Properties, Shuaa Capital, Union Properties, Air Arabia, Aramex, etc dipped in Wednesday’s trading.

However, DP World’s shares rose 3.13 per cent as the port operator declared a first-half net profit rise of 10 per cent to $206 million (Dh756m).

Volume dipped to around 39 million (from Tuesday’s 45 million) worth Dh55m (down from Tuesday’s Dh64m).

Abu Dhabi Securities Exchange (ADX), however, edged up slightly by 1.15 points or 0.05 per cent to close at 2495.70. Insurance and real estate sectors posted decline, while the rest ended in the green.

Market volume however dipped to around 39 million (from yesterday’s 42 million), worth Dh83m (down from yesterday’s Dh113m).