By: Mahmoud Gamal
Abu Dhabi - Mubasher: The Abu Dhabi Securities Exchange (ADX) declined in August after rising in two consecutive months.
The main index lost 2.28% or 104.33 points in August, reaching the level of 4,471.01 points.
The index was dragged down by the declining real estate sector which fell 1.45%, as Aldar dropped 2.82%, despite Eshraaq adding 8%.
Meanwhile, the energy sector grew 4.92%, with Dana Gas gaining 3.64%, while telecom increased 1.28%, with Etisalat rising with the same percentage.
The unadventurous selling activity pushed the main index down in August, after being effected by the banks sector’s negative results with the decline in loans, according to capital market analyst Eyad Al Qubaisi.
Investors are worried after the indicators of rising the US interest rates, which will push more liquidity into other investment tools, added Al Qubaisi.
Total traded volume shrunk in August to 883.81 million shares from 1.28 billion shares last month.
Total turnover also decreased to AED 2.28 billion, compared to AED 2.95 billion in July.
Translated by: Moslem Ali
