Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a positive performance on Tuesday, backed by the growth of real estate and banks sectors amid higher trades.
The general index rose 0.1% or 4.25 points to reach 4,261.23 points.
Trading volume reached 106.469 million shares on Tuesday, compared to 106.84 million shares on Monday. Turnover stood at AED 154.59 million, compared to AED 143.38 million.
The real estate sector topped gainers with a 0.67% increase as Eshraq Properties grew 4.21%. In addition, Eshraq was the value leader after generating AED 73.88 million from the exchange of 74.42 million shares through 534 transactions.
The banks sector went up 0.43% as Abu Dhabi Commercial Bank (ADCB) and First Gulf Bank (FGB) gained 1.81% and 0.42% respectively.
The telecom sector led losers after falling 0.85% as Etisalat declined 0.85%.
The main index’s rise was backed by the increase of real estate and banks stocks, in line with investors’ anxiety over OPEC meeting next Wednesday, Raed Diab, Vice President of Investment Research Department in KAMCO, told Mubasher.
The main index should break its resistance at 4,350 points to confirm its uptrend and reach 4,400 points, he said, adding that the index will approach 4,175 points if it breaks its support at 4,250 points.
