Dubai financial market dips

Dubai, Sep 2 (IANS/WAM) The Dubai Financial Market (DFM) general index was down 2.5 percent to 2,523.1 points at the end of August compared to 2,588.5 points at the end of July.

At the sector-level, indexes of seven out of the nine sectors in DFM ended the month in the red, with the financial and investment services sector decreasing the most by 6.8 percent, followed by the insurance sector (5.2 percent), and the telecom sector by (4.6 percent).

The industrial sector was up 14.8 percent while the consumer staples index did not change during August.

Market capitalisation decreased at August-end by 1.8 percent amounting to 232.8 billion dirhams compared to 237.1 billion dirhams at the end of the previous month. The value of shares traded reached 14.929 billion dirhams in August compared to 12.441 billion dirhams in July, up by 20 percent.

--IANS/WAM

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