Dubai stock market down
Dubai stock market is down by AED2 billion (US$544 million), due to the continued decline of the Emirates Securities Market Index.
Since the beginning of the year, the Emirates Securities Market Index has declined by 1.24%, with a total trade value of 40.45 billion dirhams. 52 of 129 registered companies are currently trading on the market. The stock prices of 18 companies rose, while the stock prices of 27 companies declined, with the remainder exhibiting no change in share price.
Emaar shares were in first place, trading at AED23.43 million for 7.97 million shares, based on 220 deals, with ArabTech shares in second, trading at AED19.37 million for 14.12 million shares based on 199 deals.
The banking sector led over other indices, up from the end of last year by 8.66%, to settle at 1,644.62 points. The communications sector index rose 1.88% to stabilize at 1,964.56 points. The consumer goods sector index declined by 2.4% to settle at 912.297 points, while the insurance sector declined by 4.7% to settle at 1,860.58 points, and the services sector index declined by 9% to settle at 1,248.92 points.
Market transactions have continued to decline in the Dubai Financial Market exacerbated by losses suffered by the majority of trading shares, lack of liquidity in the market, and other prevailing market conditions.
Trading on the Nasdaq stock exchange offered through the Dubai Financial Market was limited to DP World, which fell to 12.25 dirhams.