Traded value recover in Dubai ahead of long holidays:
Traders on the Dubai bourse resorted to continued selling and preferred to hold cash and move on the sidelines ahead of an extended weekend, causing a fall in the Dubai index on Thursday.
Traded value jumped fourfold to Dh434 million from a daily average of Dh100 million. The Dubai Financial Market general index closed 0.61 per cent lower at 2,668.66.
“The four-day weekend ahead could keep investors on the sidelines to avoid any global risk impacts,” Issam Kassabieh, Senior Financial Analyst, Menacorp said. The G20 meeting will be held over the weekend in Argentina.
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