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Dubai market falls below 1,600 point, hits 10-week low

Selling pressure continued to drag the Dubai Financial Market down Wednesday, as the market measure DFMGI closed 1.64% lower at 1,596.92 points, the lowest leve since February 21 2012. Emaar dived 3.08% to close at Dhs3.15, while Arabtec shed half a percentage point. DFM shares closed flat at Dhs1.12. The DFM is the only Arab bourse listed to the public. Around 149m shares were traded, valued at Dhs213.7m. Ten shares gained, 16 ended down and three closed even.