The bears took over on Tuesday, August 12, as 16 declining shares outnumbered nine gainers at the Dubai Financial Market. DFMGI slipped 0.17 per cent to close at4,811.86 points.
Arabtec papers were the most liquid ones and fell by 2.10 per cent to close at AED4.19. Emaar posted the second biggest surge to reach AED10.15. The market heavyweight and developer of the 828-meter Burj Khalifa has a price earnings ratio of 27.77, which is above the average (22.69) of the DFM’s construction and real estate sector.
Dubai Refreshments was up by 1.40 per cent to reach AED18.50. The firm revealed that its net income in Q2 2014 reached AED68.7 million ($18.71m), up from AED60.2m ($16.41m) in Q2 2013.
Trading volumes edged up slightly as more investors come back from holiday. Approximately 450million shares were traded, valued at AED812m.