By: Mahmoud Gamal
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a bearish performance for the third session in row, weighed down by the decline of energy and banks stocks.
The general index decreased 0.76% or 34.40 points to reach 4,462.99 points.
Trading volume reached 80.90 million shares on Thursday, compared to 121.75 million shares on Wednesday. Turnover stood at AED 141.97 million, compared to AED 192.88 million.
The energy sector sank 4.20% as Dana Gas levelled down 5.26%. The banks sector also slid 0.91% after First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD) declined 1.58% and 1.49% respectively.
The market saw profit-taking on the stocks that rose in the past sessions, capital market analyst Saleh Muhaisen told Mubasher.
Despite the rise of institutional purchases, a state of caution and anticipation controlled investors, the analyst added.
Abu Dhabi bourse is likely to maintain an upward trend in the coming sessions, with its main index is expected to break key resistance levels, Muhaisen noted.
The real estate sector tumbled 0.62% as Eshraq Properties declined 0.96%. The telecom sector lost 0.54% after Etisalat went down 0.54%.
Etisalat was the value leader after generating AED 30.8 million, while Methaq Takaful Insurance was the most active stock after trading 24 million shares.
Translated by: Julian Nabil
