On the first day of the Ramadan month, activity in the equity markets of the UAE demonstrated mixed movement. On the Dubai financial market, the DEWA index fell by 0.9%, while the banking sector index BANKEX dropped by 1.7%. On the other hand, the DFM real estate market index rose by 0.3%. Commenting on the current market situation, one of the analysts noted: "The first trading day of Ramadan proved to be mixed for UAE equities, with a tendency towards a defensive posture amid accumulated profits. Banking stocks displayed the largest negative dynamics due to partial corrections." The market remains influenced by various factors, including concerns about the potential strengthening of inflation in the USA and ongoing volatility in global markets. The impacts of these factors could lead to further selling on the equity markets, thus investors should continually monitor the development of events.
