Indices continue decline

DUBAI - Almost all key UAE market indices continued to decline yesterday with all important sectors of the market reporting big losses. The market benchmark NBAD General Index plunged further by 54.46 points or 0.91 per cent closing at 5,911.07 points mark.

By A Staff Reporter

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Published: Fri 13 Aug 2004, 12:03 PM

Last updated: Thu 2 Apr 2015, 11:45 AM

The service sector sub-index was the biggest loser, shedding 80.60 points or 1.21 per cent and closing at 6,573.13 for the day, while the banking sector sub-index lost 48.51 points to finish at 6,364.09. The insurance sector, however, managed to stay on a positive territory, gaining 1.44 points to close at 4,800.29.

Overall, the domestic market witnessed negative movement yesterday, with Emnex further declining by 0.85 per cent to close at 3986.76 for the day.

All the main sectors of the market declined, except insurance sector, which recorded a slight gain of 0.03 per cent as Al Khazna added 60 fils to trade at Dh220. Telecom sector declined by 1.46 per cent as Etisalat continued to drop, trading at Dh2.70 less.

Property sector also continued to decline (-0.61 per cent) as both Emaar and Union Properties traded at lower levels. Financial Service sector recorded 0.75 per cent loss as many Banks' shares were trading at lower levels for the day, while Islamic banking sector lost 0.36 per cent as both Islamic Banks recorded losses.

Volumes on Dubai Financial Market was slightly better than yesterday.

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