By: Mahmoud Gamal
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a bullish performance on Wednesday amid lower trades, spurred by the banks and real estate sectors.
The general index grew 0.7% or 32.77 points to reach 4,695.91 points.
The market’s gains were attributed to the tendency of investors to increase their positions in stocks of the major companies which are expected to distribute good dividends, market analyst Mohamed Ismail.
Trading volume reached 183.17 million shares on Wednesday, compared to 197.2 million shares on Tuesday. Turnover amounted to AED 281.29 million, compared to AED 318.81 million.
The banks sector rose 1.24% as First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD) levelled up 1.5% and 1.4% respectively.
The real estate sector increased 0.8% after Eshraq Properties and Aldar Properties went up 3.8% and 0.4% respectively.
On the other hand, the telecom sector fell 0.53% after Etisalat tumbled 0.53%.
The general index is expected to rise near 4,720 points amid higher oil prices, the analyst added.
Translated by: Julian Nabil
