Dubai index falls over 1.5 per cent; hits 7-week low | GulfNews.com:
"Dubai’s benchmark index fell on Wednesday, to hit its lowest level in more than seven weeks, led by Emaar as investors resorted to profit-taking after the recent run up. The Abu Dhabi index also ended lower led by banks.
The Dubai Financial Market (DFM) General Index ended 1.74 per cent lower to end at 4,899.62, after hitting a low of 4,890.18, a level last seen on August 7.
“We saw high volatility in western markets, we have lost more than 20 per cent in crude oil in a few months, these combinations of factors were responsible for profit taking,” Sebastien Henin, head of asset management at The National Investor said."
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