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Dubai market dips, COO announces short-selling to come

June 4, 2014 5:38 pm

The Dubai Financial Market General Index (DFMGI) declined for the second day straight on Wednesday, June 4, ending off by 1.07 per cent to 5,018.78 points.

Hassan Al-Serkal, the DFM’s executive vice-president and chief operating officer, says the exchange will take the necessary steps to keep investors’ interests high to retain recently achieved status upgrade to emerging market by index developer, MSCI. “We will soon introduce short-selling,” says Al-Serkal. He adds that the DFM will continue to reach out to UAE family owned firms through roadshows to attract more IPOs to increase market liquidity.

Arabtec Holding was the most liquid share, closing off by 2.34 per cent to AED6.27. At the NASDAQ Dubai, interior design firm DEPA Limited surged by 9.95 per cent to hit AED0.685. Twelve shares advanced, while 14 declined in value.  Approximately 390 million shares were traded, valued at AED1.029 billion.

Gérard Al-Fil