Lack of catalysts drives Dubai shares lower
The Dubai stock market DFM sank by one per cent on Tuesday, July 22, displaying an index level of 4,678.72 points.
Arabtec, as the most liquid share, dived 3.42 per cent to AED4.23. Emaar Properties bucked the trend and edged up by 0.41 per cent to reach AED9.72.
With no semi-annual results being released today, investors demanded shares from the “second row”. Kuwait-based investment firm Almadina posted the biggest leap upwards, finishing 5.06 per cent higher at AED0.561. Islamic insurance firm Takaful Emarat added 1.27 per cent to hit AED0.80.
Trading volumes fell by around 50 per cent as approximately 757 million shares were traded, valued at AED1.673 billion.