Dubai falls further, Abu Dhabi index rises
Real estate and bank stocks are expected to be dominant, helping edge the index towards a bright long-term outlook.
Dubai index edged lower on Tuesday on continued profit-taking after the index gained more than 10 per cent so far in the year.
The Dubai Financial Market General Index ended 4,069.27, down 0.63 per cent after moving in the range of 4,061.15-4,109.67. The gauge has gained more than 10 per cent so far in the year.
“We would generally see volatility, and that could mean some soft moves after we witnessed some fantastic rally in the last 4-5 weeks, so I wondn’t be surprised to see people locking in some profits at these levels,” said Saleem Khokhar, head of equities at National Bank of Abu Dhabi’s asset management group. Read More
