Stocks of real estate giant Emaar Properties fell three per cent toDh12.7 on Sunday on the Dubai Financial Market (DFM), which fell or the fifth consecutive trading session, reaching its lowest point since
December 2004.
The DFM fell 3.6 per cent to 388.31, triggered by the significant fall of Emaar, according to Khaleej Times.
The launch of a new index — the DFM General Index (DFMGI) —was also announced on Sunday as the benchmark DFM Index plunged to its lowest in two years. The gauge has declined 62 per cent this year, making it the worst performer out of 80 global measures tracked by Bloomberg News.
The Abu Dhabi Securities Market Index also fell to its lowest since January 2005, falling 1.7 per cent to 3233.49. The index has dropped 38 per cent this year, for the third-worst performance among global indexes this year.
