Abu Dhabi-Mubasher: Abu Dhabi Securities Exchange (ADX) saw a downward trend at open on Sunday, resuming its losses due to the negative performance of the real estate and banks sectors.
The general index declined 0.78% or 32.2 points to reach 4,116 points by 11:10am UAE time.
Turnover reached AED 59.7 million after 65.26 million shares were traded through 695 transactions.
The UAE markets are expected to continue its speculative trend amid heavy trading activity on banks sector’s stocks after the Federal Reserve raised the interest rate, analysts earlier told Mubasher.
The real estate sector retreated 2.74%, pressured by Aldar Properties which fell 2.17%.
The banks sector lost 1.16%, weighed by the losses of First Gulf Bank, National Bank of Abu Dhabi and Abu Dhabi Commercial Bank and Abu Dhabi Islamic Bank
On the flipside, the energy sector was the only gainer after adding 4.32% due to a rise in TAQA by 6.67%.
