Abu Dhabi – Mubasher: Abu Dhabi Securities Exchange (ADX) erased its early gains to close in red zone on Monday amid selling pressures over selective stocks like Dana Gas and Etisalat.
The market main index slide 0.09% or 3.77 points to close at 4,088.20 points.
The energy sector was the top loser as it slide 1.07% on the decline of Dana Gas by 1.9%, while the telecommunication sector came in the second place as went down by 0.8% on the decline of Etisalat stocks. Similarly, the banking sector eased 0.08%.
“ADX declines came amid profit taking at number of the market’s leading stocks,” said Nawaf EL Agamy, technical analyst.
The market will be capable of moving up to the level of 4,350 points as long as it keeps its position above the level of 4,300 points.
