Page 171 - SALIK PR REPORT JANUARY 2024

Dubai's benchmark index .DFMGI ended 0.3% lower, extending the previous sessions'
losses with almost all sectors in the negative territory, while it gained 0.4% on a weekly
basis.

The tolls operator Salik Company SALIK.DU lost 1.5%, and Tecom Group TECOM.DU slid
1.4%.

"The Dubai stock market recorded a slightly positive week and remained on an uptrend
overall", said Ahmed Negm, Head of Market Research MENA at XS.com.

"However, the main index saw some price corrections as traders reacted to increasing
geopolitical tensions and could continue to see some downside risks". U.S. and British
warplanes, ships and submarines struck across Yemen overnight in retaliation against
Iran-backed Houthi forces for attacks on Red Sea shipping, a widening of regional
conflict triggered by Israel's war in Gaza.

ABU DHABI

.FTFADGI dropped 0.5% to 9,791

DUBAI

.DFMGI lost 0.3% to 4,104

https://www.nasdaq.com/articles/mideast-stocks-uae-shares-dip-on-escalating-mideast-conflict