Real Estate, Banks weigh down Dubai bourse’s main index
Share prices of Emaar down 2%, Emirates NBD and Dubai Islamic Bank inch down
Dubai: Share prices of Emaar down 2 per cent, Emirates NBD and Dubai Islamic Bank inch down
The Dubai bourse’s main index fell by nearly one per cent on Tuesday, a day after being largely unchanged, as share prices of blue chip stocks slid.
The Dubai Financial Market (DFM) index dropped as much as 1.06 per cent at 2,678 points, before paring some of its losses.
The country’s top index was weighed down by real estate, with Emaar Properties down over 2 per cent, and banks with Dubai Islamic Bank and Emirates NBD both down nearly a per cent.
The UAE non-oil private sector in October matched the low growth rate reached in September, the IHS Markit UAE Purchasing Managers’ Index (PMI) survey showed on Tuesday.
The non-oil sector remained in expansion territory — figures above 50 indicate growth — but the rate has slowed considerably over the last couple of months.