Dubai Financial Market (DFM) fell 1.3% last week, while Abu Dhabi Securities Exchange (ADX) fell 1.07%, amid selling by Arabs and nationals, as foreign investors were net buyers.

In addition, a financial analyst told Emirates Today that the decline came despite some positive news in the market, represented by the flexibility shown by the Central Bank to lend to the real estate sector, in addition to the results of good banks in the market.

Dubai market

Dubai Financial Market (DFM) declined 1.3% to 2746.93 points last week.

Sectors leading the decline were the industrials that lost 4.17%, real estate 2.73%, telecommunications down 1.75%, and services down 1.41%.

«Arabtec Holding Company» was the biggest loser in the market, after falling 7.5%, and «Takaful Emarat» by 6.4%.

Nationals, Arabs and GCC nationals were net sellers of AED 11.97 million, AED 44.97 million and AED 29.56 million respectively, while foreigners netted ADX buyers by AED 86.5 million.

Retail traders tended towards net buying, at AED 6.9 million, while individuals were net sellers, selling at AED 11.41 million.

Positive factors

Tarek Qaqish, general manager of asset management at MENA Corp, said the decline in domestic financial markets came despite some positive factors in the markets, such as the positive results of banks and interest rate cuts.

He added that the Central Bank has shown some flexibility towards the real estate sector. In lending to the sector.

flexibility

"This is a sign of resilience for policymakers. This is a positive signal for real estate companies in the market," he said.

Kakish predicted that the rate cuts will affect the markets and the performance of companies, within a period of three to six months.

Abu Dhabi Securities Exchange

Abu Dhabi Securities Market Index has decreased by 1.07% to close at 5107.76 points. The energy sector recorded the largest decline by 1.88%, followed by the banking sector by 1.6%, then the services sector by 1.049%, while the real estate sector increased by 1.66%, and consumer goods sector by 0.14%.

Nationals and Arabs were net sellers of AED 13.51 million and AED 91.3 million respectively, with a sell / buy difference of AED 8.589 million and AED 96.2 million respectively.

29.56

AED million

Sales Citizens

In the Dubai market

Financial.