By: Bedour Al Raee
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index added 3 points, or 0.06%, to close at 4891.78 points on Tuesday, buoyed up by the banks sector.
The ADX’s trading volume reached 24.86 million shares, while the market’s turnover stood at AED 85.60 million.
The banking sector rose 0.22% after Abu Dhabi Commercial Bank (ADCB) went up 0.90%, while First Abu Dhabi Bank’s (FAB) stock fell 0.42%.
On the other hand, the real estate sector fell 1.04% after Aldar Properties dropped 1.11% and Eshraq Properties slipped 0.36%.
The energy sector dipped 0.10% as the Abu Dhabi National Oil Company’s (ADNOC) stock dropped 0.42%.
Dana Gas’s stock topped the ADX’s trading volume with 6.49 million shares, while FAB generated the highest liquidity with AED 30.76 million.
Raed Diab, vice president of Investment Research at KAMCO told Mubasher that the ADX’s performance remains stable despite the previous sessions’ fluctuation.
Investors are likely to stay a bit cautious to build new positions until third-quarter results are announced, Diab added, noting that mounting oil prices were a good factor.
From a technical perspective, there would be a need to opt for a technical correction to maintain the positive upward trajectory, he said
The ADX’S market capitalisation reached AED 485.731 billion ($132.22 billion).
Translated By: Dunya Hassanein
