Dubai shares end a tad lower before Emaar Mall share sale | GulfNews.com

Dubai shares end a tad lower before Emaar Mall share sale | GulfNews.com:



"Dubai shares ended a tad lower on Tuesday as investors continued to book profits before Emaar Properties open the subscription for shares in its malls unit next week. The Abu Dhabi index also fell.



The Dubai Financial Market General Index fell 0.15 per cent to settle at 5,083.09, reversing previous session’s 1.11 per cent gains. The UAE’s biggest listed builder Arabtec, which rose 2.94 per cent, was the most active stock by value in trade, while Emaar, which shed 1.75 per cent, was the second-most active stock by value.



“We saw some profit-taking and liquidation of positions for the IPO. Going ahead we expect consolidation while investors get ready for the IPO,” said Marwan Shurrab, fund manager and head of trading at Vision Investments."



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