By: Enas Bahgat
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index lost 70.17 points, or 1.54%, to close at 4,437.83 points in the week ended Thursday, 10 May.
The ADX’s trading volume reached 436.15 million shares, while the market’s liquidity amounted to AED 743.29 million.
The market has seen low liquidity levels throughout the week ended 10 May, member of UK's Society of Technical Analysts Osama Al Ashry told Mubasher.
Over the week, the telecommunication sector and its only stock Etisalat went down 3.24% each. The real estate sector tumbled 1.97% after Manazel Real Estate dropped 5.66% and Aldar Properties levelled down 1.93%.
The banks sector sank 1.29% after Abu Dhabi Commercial Bank (ADCB) shed 0.87%, while First Abu Dhabi Bank (FAB) plunged 3.38%.
On the other hand, the energy sector rose 1.08% as ADNOC Distribution and Dana Gas grew 1.62% and 0.97%, respectively.
The ADX is likely to retreat in the coming period, therefore, investors should be very careful when closing any new deal, Al Ashry said.
Translated by: Muhammad Khalid
