DFM index slides 1.1% as ADX ends flat
Markets regionally, globally still see uncertainty from trade, geopolitical tensions
Dubai: The Dubai Financial Market (DFM) index slid by 1.13 per cent on Tuesday amid selling activity on powerhouses Emirates NBD and Emaar even as trade values remained low.
The index ended at 2,803.34, with just Dh154 million traded on the bourse. Emirates NBD’s share prices fell by 2.26 per cent as Emaar declined 1.24 per cent and Deyaar dropped 1.46 per cent.
In Abu Dhabi, the bourse’s main index was nearly flat on Tuesday, ending at 5,076.48 — up 0.02 per cent, with weak trade values as well.
Markets in the region and globally have been awaiting a catalyst as investors still face uncertainty over issues such as trade tensions between China and the US, and geopolitical tensions in the Middle East following a drone strike on oil facilities in Saudi Arabia. The risks from geopolitical and trade tensions have sent gold prices higher, with the yellow metal now trading at its highest level in years at around $1,530 per ounce.