By: Mahmoud Gamal
Abu Dhabi-Muabsher: Abu Dhabi Securities Exchange (ADX) saw a rise in its losses on Sunday, amid increasing sales especially in the energy and real estate sectors.
The general index retreated 0.30% or 13.23 points to reach 4,367.90 points.
The market was weighed down by speculations on blue chips and lower oil prices, according to capital market analyst Nawaf Al-Ajmi.
The energy sector led losers after falling 1.03% as Dana Gas retreated 1.8%.
The real estate sector slid 0.7% as Aldar Properties levelled down 0.7%.
The telecom sector fell 0.3%, affected by Etisalat which accounted for 36.2% of the market’s liquidity.
The banks sector went down 0.15% after National Bank of Abu Dhabi (NBAD) and Union National Bank (UNB) slipped 1.45%.
Despite the fall of ADX on Sunday, investors showed interest to build positions in some stocks like TAQA and First Gulf Bank (FGB) which rose 1.7% and 0.8%, respectively.
Trading volume reached 28.44 million shares on Sunday, compared to 86.36 million shares last Thursday.
Turnover stood at AED 58.72 million, compared to AED 134.82 million.
If the general index manages to stabilise above 4,360, it will be able to reach 4,400 points again after the trend of oil prices becomes clearer, according to Al Ajmi.
Translated by: Julian Nabil
