Emaar, DFM and Arabtec drag Dubai index down by 2.28%
UAE shares failed to hold on despite a strong rebound on Tuesday. The world stocks and bonds gained for the second day on Wednesday, lifted by healthy US data.
Dubai index plunged 2.28 per cent on profit-taking to 2214.21 points, dragged down by Emaar, Dubai Investment, DFM and Arabtec shares.
Among the gainers, GGICO rose 3.34 per cent to Dh0.526, followed by Dartakaful by 2.73 per cent to Dh0.565 and Aramex by 1.66 per cent to Dh2.45.
Among the losers, Ajman Bank suffered 5.41 per cent followed by Ekttitab by 5.41 per cent and Dubai Investment by 5.04 per cent.
Of the 25 companies traded, five rose and 21 fell.
About 227.53 million shares worth Dh366.19 million were traded.
DFM was the active volume leader while Emaar was the active value leader.
Meanwhile, Abu Dhabi’s benchmark also fell slightly to close 0.90 per cent at 3506.90.
Invest Bank was the biggest gainer by 10.43 per cent, followed by Al Khazna Insurance Co by 4.11 per cent and BildCo by 3.70 per cent.
Gulf Cement Company was the biggest loser by 9.86 per cent, followed by Methaq by 7.69 per cent and Arkan by 7.32 per cent.
Of the 31 companies traded, seven rose, 21 fell and three remained unchanged.
About 247.76 million shares worth Dh1.30 billion were traded.
Aldar was the active volume leader while First Gulf Bank was the active value leader.