The Dubai Financial Market (DFM) index fell Wednesday, the first trading day after Eid, on profit-taking by investors who cashed in on the last few weeks of gains. The volume of trade was low as due to lack of catalysts and because of the absence of any major buyers on the market.
The slowing economic growth in China and the US remain major concerns for global investors. However, analysts say for now, the overall sentiments are positive and the Dubai market would see a rally in the coming days, taking its direction from the sentiments prevailing on the global financial markets that have been bullish in the anticipation central banks around the world would ease their monetary policy in order to jump-start growth in a flagging world economy, a move which would give boost to riskier assets such as stocks.
The DFM index closed at 1,576.15, down 0.29 per cent. Around 107.58 million shares, cumulatively worth about Dh116.54 million were traded on the stock market.
No comments:
Post a Comment