Dubai – The general index of the Dubai Financial Market (DFM) ended July on a negative note as companies report their financial results which were impacted by the coronavirus (COVID-19) pandemic.
The DFM’s general index decreased by 0.7% or 14.51 points to 2,050.77 points at the end of July from 2,065.28 points a month earlier.
The banks and investment sectors slid by 0.5% and 1.5%, respectively, while the real estate sector increased by 0.4%.
As for stocks, Arabtec Holding jumped by 118.5% and DAMAC Properties increased by 31.5%, whereas Emaar Properties, Emaar Development, and Emaar Malls retreated by 5.8%, 0.9%, and 2.9%, respectively.
Meanwhile, Dubai Islamic Bank, Emirates NBD, and Dubai Investments dropped by 1.3%, 0.22%, and 1.7%, in that order.
It is worth mentioning that the DFM announced that trading would be halted from 30 July until 2 August on the occasion of Eid Al Adha to be resumed again on 3 August.