By: Mahmoud Gamal
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) closed Wednesday’s trading session in the green zone, in line with higher purchases in three sectors led by telecom and banks.
The general index added 0.62% or 28.38 points to reach 4,581.26 points.
The telecom sector led gainers with a 0.85% rise as Etisalat climbed 0.85%. The banks sector grew 0.79% after National Bank of Abu Dhabi (NBAD) went up 1.35%.
The industrial sector increased 0.52% as RAK Cement advanced 8.4%.
Purchases of blue chips pushed the market to close higher, in line with the tendency of investors to increase their positions following the rise of oil prices.
The market was also backed by the positive outlook for blue chip companies’ results for the first quarter of 2017.
The market saw trading of 61.6 million shares through 1,544 transactions, with a turnover of AED 172.8 million.
ADX is expected to continue its fluctuations; however, its stability above 4,560 points may push the market to see lower sales and reach 4,600 points.
Translated by: Julian Nabil
