Complex Made Simple

Extended sell-out sends Dubai market down by another 1.77%

The DFM General Index closed Sunday at the lowest level since February 21, off 1.77% at 1,488.24 points amid low trading volumes. Bad input from Greece, which fuelled speculations it could leave the Euro, and the U. S., after investment bank JPMorgan lost $2bn in credit derivatives trading, spoiled the sentiment. Arabtec was the most liquid share, falling 5.76% at Dhs2.78. Islamic insurer Dartakaful lost the most (off 7.15% at Dhs0.61). Dubai Refreshments was the top gainer (up 3.45% at Dhs12). Around 88m shares were traded, valued at Dhs127.6m. Three stocks gained, 21 declined and one ended even.