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DFM Index slides 3.36%, closing below the 5000 mark as real estate stocks lead the decline

list Sep 10, 2014 | Views 377

The DFM Index posted its biggest daily loss since July 2014 on Wednesday, as Real Estate (-4.91%), Investment (-4.43%), and Services (-2.81%) sectors dived into the red. Out of the 29 companies traded only two gained and 26 declined, while one was unchanged. The benchmark index tumbled 3.36%, as the heavily traded stock Arabtec triggered a broad market selloff. Arabtec Holding (ARTC) ended down 9.18% at 4.45, almost touching the day limit, and was followed by a 6.78% decline in Gulf General Investments Co. (GGICO), and 5.92% drop in Gulf Navigation Holding (GULFNAV). Three-month charts for the six top losers are below.

DFM fell 3.36%

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