Complex Made Simple

The sellout continues at Dubai market

The DFM General Index dipped below 1,400 points Tuesday, closing 1.44% lower at 1,387.31 points. Emaar Properties, the most liquid share, ended down three percent to Dhs2.56. The DFM, the only Arab market which is publicly listed, plunged 2.83% to Dhs1.03. "October could be torrid for investors," says Gary Dugan, CIO Private Banking at bank Emirates NBD (off 1.82% at Dhs3.77). "During the month Greece will either run out of money or have a further bail out from the Euro zone and IMF. Although G20 is set to meet in Cannes, France in November, I doubt the markets will be that patient to wait." Air Arabia, one of the four advancing shares, gained 0.16% to reach Dhs0.62. Trading volumes surged 7.5% as some 85m stocks were traded, valued at Dhs109.5m.