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Dubai market slightly lower, but blue chips stable

After the gauge hit a one-month-high last Thursday, the Dubai Financial Market closed Sunday trading 0.44% lower at 1,498.16 points. According to EFG Hermes, last week "the index stopped right above the expected support 1486 and finally closed in green. Some sideways action to consolidate around current levels is needed before a decisive resumption to take place." Emaar and Arabtec Construction closed flat, while Deyaar Development and Union Properties fell 0.33% and 1.26%, respectively. Some 88m shares worth Dhs118.3m changed hands.