DFM General Index Closed Lowest Level Since Feb

By Yomna Yasser On May 13, 2012

The Dubai Financial Market General Index (DFMGI) closed Sunday at the lowest level since February 21, off 1.77% at 1,488.24 points amid low trading volumes.

Bad input from Greece, which fueled speculations it could leave the Euro, and the U.S., after investment bank JPMorgan Chase & Co (JPM:US) lost $2 billion in credit derivatives trading, spoiled the sentiment.

Arabtec Holding Co (ARTC:UH) was the most liquid share, falling 5.76% at Dhs2.78 ($0.76). Islamic insurer Takaful Al Emarat Insurance Co (TAKAFULE:UH) lost the most (off 4.85% at Dhs0.569 or $ 0.15). Dubai Refreshments Co. (DRC:UH) was the top gainer (up 3.45% at Dhs12 or $3.27).

Around 88 million shares were traded, valued at Dhs127.6 million ($34.74 million). Three stocks gained, 21 declined and one ended even.