By: Mahmoud Gamal
Abu Dhabi-Mubasher: Abu Dhabi Securities Exchange (ADX) managed to end in the green on Sunday, backed by the banks and telecom sectors.
The general index rose 0.16% to reach 4,141.49 points, backed by First Gulf Bank which has the heaviest weight in the benchmark index, in addition to Etisalat's gains, said Tarek Al Sawy, CEO at a financial consultancy firm.
The market is seeing positive speculations with the aim of achieving a marginal gain, amid anticipation for the companies’ annual financials.
Aldar Properties declined 1.4%, pushing the real estate sector to fall 1.24%.
The banks sector levelled up 0.36% after First Gulf Bank advanced 2.13%.
Etisalat increased 0.31%, boosting the market’s gains.
The consumer staples sector fell 3.3% after Agthia Group declined 3.9%.
Trading volume dropped to 51.68 million shares on Sunday, compared to 78.28 million shares on Thursday. Likewise, turnover decreased to AED 79.48 million ($21.6 million) from AED 197.82 million ($53.84 million).
The UAE markets continued to see a weak performance at the beginning of 2016, dragged by lower oil prices and negative performance of global markets.
Dana Gas was the most active company after generating 27.4 million shares, while Etisalat was the value leader after generating AED 23 million.
Translated by: Julian Nabil
