Stocks

DFM hits biggest one-day loss in five months

2016-01-17 17:06:52 GMT (Economies.com)

 Dubai Financial Market (DFM) closed Sunday with the biggest one-day losses in five months, amid the decline of all sectors after the fall of oil prices.

The main gauge closed at 2,648.92 points, falling 130.53 points or 4.64%; the biggest decline since late August.

Gulf markets will likely continue the downward trend they witnessed last week due to lower oil prices, said capital market analyst Ibrahim Al-Failakawi.

Turnover reached AED 457.65 million ($125.68 million) on Sunday, compared to AED 493.47 million ($134.3 million) on Thursday. Trading volume stood at 401.8 million shares, compared to 405.26 million.

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