Turnover down


Abu Dhabi Securities Exchange   -   ADX Index
3,443.90 -16.46 -0.48%
Dubai Financial Market   -   Dubai Financial Market Index
2,286.43 -19.19 -0.83%
28/04/2009 00:00 AST  www.business24-7.ae
Top Related Companies
ETISALAT
11.95 0.25 2.13%
 
NBAD
12 -0.05 -0.42%
 
FGB
14 -0.40 -2.78%
 
EMAAR
5.81 -0.06 -1.03%
 
EMIRATESNBD
5.6 -0.12 -2.10%
 

Turnover on the DFM was down yesterday, reflecting weaker market sentiment.

About 313 million shares changed hands in 6,596 transactions worth a total of Dh375 million.

Emirates NBD was the lone star in the first half of the session as it was the only scrip that traded at higher levels, while the remaining traded stocks faced selling pressure. At the end of the session Gulf General Investments joined Emirates NBD in positive territory to close 3.2 per cent higher at Dh1.93.

"Volumes are very low and low-volume selling with a lack of buying interest made the market fall sharply towards its lower support levels," said Shiv Prakash of Mac Capital. "Crude oil also witnessed selling in the morning, which had a bad impact on the markets."

The outlook for short-term trading has become bleak and as a result the DFM has seen speculative selling.

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