ID :
75888
Tue, 08/18/2009 - 15:27
Auther :
Shortlink :
https://www.oananews.org//node/75888
The shortlink copeid
Dubai market plummets 5.76 percent
Dubai, Aug 18, 2009 (WAM) - For the second consecutive day, the local Dubai stock market (DFM) posted heavy losses and switched to panic selling during the last two hours of trading.
According to AMEInfo, DFM Index closed 5.76 percent lower at 1,774.01 points, wiping out a key resistance level at 1,800 points. Emaar Properties (off 8.75 percent) and shares of DFM (down 8.57 percent) were most actively traded, closing at AED 2.92 and AED 1.60, respectively.
Telecom operator Du posted the smallest loss, ending 2.16 percent lower at AED 2.72. As the DFM Index advanced 19 percent from July 13 until August 10, investors were keen on securing profits quickly ahead of the Holy Month of Ramadan, which is expected to begin this Friday. The DFM ended with zero gainers today.
According to AMEInfo, DFM Index closed 5.76 percent lower at 1,774.01 points, wiping out a key resistance level at 1,800 points. Emaar Properties (off 8.75 percent) and shares of DFM (down 8.57 percent) were most actively traded, closing at AED 2.92 and AED 1.60, respectively.
Telecom operator Du posted the smallest loss, ending 2.16 percent lower at AED 2.72. As the DFM Index advanced 19 percent from July 13 until August 10, investors were keen on securing profits quickly ahead of the Holy Month of Ramadan, which is expected to begin this Friday. The DFM ended with zero gainers today.
