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Profit booking drags Dubai market slightly down
- United Arab Emirates: Sunday, January 13 - 2013 at 13:56
After gaining around 8% in the first week of the year, the DFM General Index closed Sunday 1.32% lower at 1,733.10 points. Earlier in the day, EFG Hermes said that technical indicators have reached the overbought level for the first time in a year. Despite ongoing bullish volumes, DFM shares fell 2.61% to hit Dhs1.12, while Emaar dived 1.94% to finish at Dhs4.05. District cooling solutions producer Tabreed lost the most (off 4.32% at Dhs1.55). Dubai Islamic Insurance and Reinsurance, branded as Aman, bucked the trend, ending 14.41% higher at Dhs1.27. Some 554m shares were traded, valued at Dhs536.53m.
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Gérard Al-Fil, Financial JournalistSunday, January 13 - 2013 at 13:56 UAE local time (GMT+4)
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