Emaar heads Dubai losers; trading low

Emaar Properties weighs on Dubai's index as investors cash in the previous day's gains. Emaar falls 1.2 per cent and accounts for nearly half of all shares changing hands on the index. Analysts say longer-term investors will be largely absent until after the Eid Al-Adha holidays, which start on Thursday, leaving day traders to dominate and causing the market to fluctuate up and down on a day-to-day basis. "Investors who realise the value in the market are quietly accumulating, especially foreign investors who are net buyers in November," says Mohammed Yasin, Shuaa Securities chief executive. "Local investors are waiting for something to move the market, while a lot of analysts are looking at the market from a technical perspective to say it will go down and that's scaring away some people." Dubai Financial Market falls 0.9 per cent. Losers outnumber gainers eight to zero. The index falls 0.3 per cent to 2,105 points.