By: Bedour Al Raee
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index gained 1.21%, or 54.84 points, to close at 4,595.69 points on Wednesday amid cautious trading.
The UAE’s markets saw a good performance today, compared to Tuesday’s plunge, and recovered some of their losses, Al-Sharhan Centre’s general manager, Gamal Agag, told Mubasher.
Investors considered what happened yesterday as an unrealistic exaggeration and, acting accordingly, they resumed buying transactions, Agag added.
The ADX’s trading volume dropped to 66.7 million shares from 160.52 million on Tuesday, while the market’s liquidity dropped to AED 147.99 million, compared to AED 208.5 million in the previous session.
The real estate sector upped 1.69% after Aldar Properties surged 2.27%.
The telecommunication sector and its only stock Etisalat added 1.45% each.
The banks sector rose 1.23%, as Abu Dhabi Commercial Bank (ADCB) and First Abu Dhabi Bank (FAB) levelled up 1.41% and 1.34%, respectively.
The energy sector went up around 1.12%, pushed up by ADNOC Distribution, which soared 3.09%.
Meanwhile, the investment sector shed 0.45% after Waha Capital lost 0.49%.
First Gulf Bank (FGB) topped the ADX in terms of liquidity, with a turnover of AED 28 million, while Methaq Takaful Insurance led the market in terms of volume, with 12.25 million traded shares.
Translated by: Muhammad Khalid
