By: Bedour Elra'ee
Abu Dhabi – Mubasher: The trading of Abu Dhabi Securities Exchange (ADX) was negatively affected in the third quarter by the banks, real estate, energy and telecom sectors.
ADX’s benchmark index fell 0.47% during Q3 to reach 4,476.32 points.
The market’s trading value reached AED 8.6 billion in the three months, as 3.95 billion shares were traded . August was the most active month in which 1.422 billion shares were exchanged with a value of AED 3.20 billion.
The banks sector levelled down 2.9%, dragged by First Gulf Bank and National Bank of Abu Dhabi which dropped 6.35% and 4.97% respectively.
The consumer goods sector led the decliners with a 15% fall, affected by Agthia Group which lost 18.7%.
The industrial sector retreated 6.7%, in line with the 9.38% fall of RAK Ceramics.
On a monthly level, the main index went up 0.12% with 1.25 billion shares traded at a value of AED 2.5 billion.
During the first nine months of 2016, the benchmark index of ADX gained 4% or 169 points.
ADX will see speculative performance in October which is expected to remain unchanged in terms of trading activity, capital market analyst Waddah Al-Taha said.
The analyst called for postponing any IPOs to 2017, worrying over being affected by low liquidity.
Translated by: Ingy ElSafy
