By: Enas Bahgat
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index grew 0.31% or 14.45 points to 4,643.69 points, pushed up by some listed companies’ positive disclosures.
Lacking any incentives, the ADI was fluctuating over the last sessions, vice president of Investment Research at KAMCO Raed Diab commented.
The telecommunications sector and its only stock Etisalat rose 0.84% each.
The banks sector added 0.25% after National Bank of Umm Al Qaiwain (NBQ) surged 9.09%.
The companies’ results in 2017 are the main driver of the market to attract capital, Diab told Mubasher.
Abu Dhabi Islamic Bank (ADIB), Sharjah Islamic Bank, Abu Dhabi Commercial Bank (ADCB), and Union National Bank (UNB) went up 1.01%, 0.74%, 0.27%, and 0.25%, respectively.
The real estate sector gained 0.13% after Eshraq Properties rose 1.3%.
The ADX’s trading volume increased to 57.4 million shares from 57.3 million on Monday, while the market’s turnover grew to AED 153.2 million versus AED 142.5 million in the previous session.
Etisalat was the most actively-traded share in terms of liquidity, with a turnover of AED 62.11 million, while Manazel Real Estate ranked first in the market in terms of volume, with 11.3 million traded shares.
Technically, the ADI must break above the range between 4,640 points and 4,670 points to level up, Diab explained, noting that the index may see a profit-taking trend aimed at technical correction.
Translated by: Muhammad Khalid
