Dubai index down by 2.8% month on month

The Dubai Financial Market General Index decreased by 2.8 per cent to 1,516.9 at the end of June compared to 1,559.9 at the end of May. Six out of the nine indices represented on the DFM ended the month in the red, with the services sector declining the most, down 12.7 per cent, followed by the transportation and real estate sectors, falling by 6.3 and 4.8 per cent respectively. Meanwhile, the industrial and banking sectors increased by 8.9 per cent and 1.1 per cent respectively. The market capitalisation of the DFM fell at the end of last month by 1.1 per cent to Dh194.9 billion compared to Dh196.9 billion at the end of May. The value of shares traded during this month was Dh3.1 billion, compared to Dh3.5 billion in May, a decrease of 9.6 per cent. Article continues below The number of shares traded decreased by 19.7 per cent to 2.5 billion during this month compared to 3.2 billion in May. Contribution The number of transactions executed during June fell by 16.1 per cent to 42,500 compared to 50,700 deals carried out during the previous month. As for each sector's contribution to trading volumes, the real estate and construction sector ranked first in terms of the value of traded shares, to Dh1.481 billion, or 47.4 per cent of the total value of shares traded in the market. The banking sector ranked second at Dh610.7 million, or 19.6 per cent, followed by financial services and investment with Dh346.1 million, 11.1 per cent. The transportation sector was next with Dh238.3 million, or 7.6 per cent, followed by the services sector with Dh173.3 million, or 5.6 per cent, and the insurance and telecommunication sectors had 5.2 per cent and 3.5 per cent respectively. The value of shares bought by foreign investors during this month was Dh1.426 billion, comprising 45.7 per cent of the total value of shares traded. The value of shares sold by foreign investors during the same period was Dh1.483 billion, comprising 47.5 per cent of the total value traded.