Dubai: Lacklustre trading continued on the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX) on Sunday.
The Dubai Financial Market General Index fell 0.08 per cent to 3,079.51 by the end of the session. Traded value on the index fell to Dh93 million, down from last week’s average of Dh250 million.
“If the support at 3,060 holds strong, the Dubai index may continue to trade in the range, with resistance seen at [the] 3,153 level,” Shiv Prakash, a senior analyst with First Abu Dhabi Bank Securities (FABS), said in a note.
Most of the shares traded in a tight range. Emaar Properties slipped 0.71 per cent to close at Dh5.60, while DP World closed less than a per cent lower to $22.
Emaar Development closed 0.73 per cent higher to Dh5.55 but Gulf Finance House fell more than 1 per cent to close at Dh 1.28.
Air Arabia closed 0.83 per cent higher at Dh1.21.
The ADX General Index closed 0.51 per cent lower at 4,682.47.
“The ADX index is trading sideways up and may head towards the 4,950 target zone in the short term,” Prakash said.
Taqa closed 3.36 per cent higher at Dh1.23 while Waha Capital went the other way, closing 2.23 per cent lower at Dh1.75.
Etisalat slipped 0.86 per cent to close at Dh17.25.
“Etisalat took support near the previous low at Dh17, the shares are expected to recover back higher towards the neckline barrier at Dh17.90 in the near term,” Prakash said.
Aldar Properties closed nearly 1 per cent lower at Dh2.08.
Elsewhere in the Gulf region, Saudi Arabia’s Tadawul All Share Index fell 0.22 per cent to 8,258.91, despite weakness in materials stocks being offset by the strength of capital goods shares. The Nomu index ended 0.53 per cent higher at 3,184.40.
The Qatar Exchange index closed 0.45 per cent lower at 9,155.55, while the Muscat MSM 30 index closed flat at 4,776.40, down 0.07 per cent. The Bahrain all share index ended flat at 1,301.08.
