By: Bedour Alraei
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) witnessed gains in the week ended 5 January 2017 amid a slight decline in trading activity, backed by the rise of banks and real estate sectors.
The general index rose 1.22% or 55.59 points to reach 4,601.96 points this week.
The insurance sector topped gainers with a 11.94% increase as Al Wathba National Insurance Co. (AWNIC) levelled up 48.6% and 30.56% respectively.
Positive trading on insurance stocks comes in line with the application of motor vehicle insurance policy and optimism before the announcement of annual results, capital market analyst Wael Muhaisen told Mubasher.
The banks sector climbed 1.67% after Abu Dhabi Commercial Bank (ADCB) and National Bank of Abu Dhabi (NBAD) advanced 7.25% and 2.6% respectively.
The real estate sector increased 1.21% as Aldar Properties grew 1.52%.
Some of the current liquidity was focused on small-cap chips, Fadi El Ghattis said in a statement to Mubasher.
On the flipside, the energy sector fell 3.03% after TAQA and Dana Gas went down 7.55% and 1.85% respectively.
Turnover amounted to AED 803 million this week, compared to AED 985.328 million last week. Trading volume reached 566.18 million shares, compared to 577.214 million shares.
Translated by: Julian Nabil
