Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a bullish performance on Wednesday, spurred by the rise of banks stocks.
The main index rose 0.11% or 4.85 points to reach 4,468.41 points.
The main index is still fluctuating as investors are shying away from purchases ahead of the Eid Al Adha holiday, according to Raed Diab, vice president of the Investment Research Department at KAMCO.
The banks sector rose 0.07% as Abu Dhabi Islamic Bank (ADIB) and Union National Bank (UNB) went up 1.37% and 0.71%, respectively.
The energy sector grew 1% as TAQA levelled up 4.92%.
Trading volume reached 53.46 million shares on Wednesday, compared to 24.93 million shares on Tuesday. Turnover amounted to AED 115.94 million, compared to AED 85.33 million.
Eshraq Properties was the most active stock with a trading volume of 17.99 million shares, while First Abu Dhabi Bank (FAB) was the value leader after generating AED 35.93 million.
The rise of the main index above its first resistance at 4,506 points will decrease the possibility of the market’s decline, Diab noted.
