Market negative last week

DUBAI - The UAE market witnessed negative movements during last week, with Emnex closing down by 8.08 points or 0.20 per cent lower.

By A Staff Reporter

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Published: Mon 9 Aug 2004, 9:44 AM

Last updated: Thu 2 Apr 2015, 11:44 AM

The Financial Service registered a decline of 0.29 per cent as Abu Dhabi Commercial Bank and Commercial Bank International traded with lower prices during the week.

Property sector witnessed a big decline in the market due to the losses posted by Emaar shares, which closed at lower prices.

Islamic sector gained 0.62 per cent as both Islamic Bank shares traded at higher levels. Telecom sector gained 0.28 per cent as Etisalat recovered by 50 fils during the week.

NAV lost Dh0.025 or 0.2 per cent last week due to the low trading activity for most shares in the portfolio, which is normal and expected during this time of the year, according to a report from Emirates Funds.

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