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DFM stocks close the week with 0.4pc fall

DUBAI — Salam International yesterday hit the bottom rung of the Dubai Financial Market (DFM) General Index, which closed a week of trading in the red, falling 0.4 per cent to 4,061.05 points. Salam fell 14.78 per cent to close at Dh12.10.

On Sunday, Dubai's main index opened the week with a gain of 3.57 per cent to 3,975.6 points.

Emaar Properties, the largest publicly traded property developer in the Middle East, yesterday declined 0.9 per cent to Dh11.15 while Union Properties, an Abu Dhabi-based real estate developer, fell 3.6 per cent to Dh2.65.

The other big losers in the Dubai benchmark were Oman Insurance Co, which slumped 4.84 per cent to Dh10.80, Arab Emirates Investment with a decrease of 4.4 per cent to Dh1,410, and Emirates Bank International with a loss of 2.28 per cent to close at Dh8.99.

The top gainers were Public Warehousing Co with a rise of 13.82 per cent to close at Dh28, Amlak Finance with a gain of 4 per cent to close at Dh3.38, Dubai National Insurance with an increase of 1.78 per cent to Dh2.85, National Bank of Dubai with a rise of 1.63 per cent to Dh9.35, and du, the country's second largest telecom firm, which rose 0.59 per cent to close at Dh5.04.

The telecom index topped the Abu Dhabi Securities Market (ADSM) Index rose 0.7 per cent to 3,216.59 points and brought its seven-day winning streak to 5.7 per cent.