By: Mahmoud Gamal
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a positive performance on Sunday, backed by selective purchases of banks and energy stocks.
The general index rose 0.14% or 6.13 points to reach 4,449.66 points.
The energy sector added 4.8% after TAQA and Dana Gas levelled up 13.04% and 2.38%, respectively.
The banks sector climbed 0.85% as National Bank of Abu Dhabi (NBAD) went up 1.46%.
The banks stocks saw strong purchases following the news on the merger between the National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB), capital market analyst Nasser Al Qubaisi told Mubasher.
Trading is still weak, yet the market is expected to see a sideways-to-bearish trend in the coming sessions, Al Qubaisi added.
Trading volume reached 71.03 million shares on Sunday, compared to 216.418 million shares last Thursday. Turnover amounted to AED 139.31 million, compared to AED 609.54 million.
Translated by: Julian Nabil
