By: Mahmoud Gamal
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.
The main index rose 0.17% or 7.21 points to reach 4,307.39 points.
Dubai bourse’s trading activity was supported by Eshraq Properties which generated AED 78.57 million from the exchange of 97.05 million shares.
The market saw trading of 125 million shares on Tuesday, compared to 50 million shares on Monday. Turnover stood at AED 145.43 million, compared to AED 107.44 million.
The real estate sector went up 1.66% as Eshraq Properties and Aldar Properties grew 3.8% and 1.52% respectively.
The banks sector increased 0.25% as First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD) gained 0.43% and 0.56% respectively.
On the other hand, the energy sector fell as TAQA slid 1.69%. The telecom sector also retreated 0.27% after Etisalat decreased 0.27%.
The market saw a volatile performance as traders focused on some selective stocks on the back of lower oil prices, according to Raed Diab, Vice President of Investment Research Department in KAMCO, told Mubasher.
The main index cannot currently break above its resistance at 4,315-4,330 points, the analyst noted.
If the market resumed its decline, the main index may fall below 4,265 points then 4,245 points, Diab added.
Translated by: Julian Nabil
