DUBAI: Dubai Financial Market General Index down 0.19 percent to ended at 3,754.10 points. The index had gained more than 10 percent in past eight sessions until Tuesday.
Investors resorted to profit-booking on Dubai index after crude oil prices fell more than 6 percent on Wednesday’s trade.
“The Dubai index has been trying to breach the resistance level 3,793. If the index successfully breaches this resistance level, it may see a new target in the next few weeks,” said Osama Al Ashri, member of British organisation, Society of Technical Analysts.
US crude oil futures rose around half a dollar on Thursday, coming back from a more than 6 percent fall in the previous session.
In stock specific movements, Dubai Investments fell 0.36 percent to end at Dh2.75 after it approved a cash dividend and bonus shares in its shareholders meeting. Gulf Finance House rose 1.21 percent to end at Dh0.250. Damac Properties ended 0.78 percent lower at Dh2.53. Emaar Properties ended 0.56 percent lower at Dh7.15. Another construction major, Arabtec ended 0.78 percent lower at Dh2.55.
Out of a total of 33 stocks traded on the exchange, shares of 18 companies rose, while shares of 12 companies fell.
The Abu Dhabi Securities Exchange General Index also ended 0.21 percent lower at 4,562.86. First Gulf Bank ended steady at Dh15.05. Eshraq Properties ended at Dh0.790, up 6.76 percent, while Aldar Properties ended 0.78 percent lower at Dh2.55. Waha Capital ended Dh2.660, up 1.14 percent.
Out of a total of 27 companies traded on the exchange, shares of 10 companies rose, while shares of 7 fell.
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