Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a positive performance for the second successive session, amid a rise in trading activity.
The general index went up 0.59% or 26.86 points to reach 4,596.39 points.
The market is moving sideways between 4,500 and 4,700 points, according to Mohamed Radwan, a member of the International Federation of Technical Analysts.
Turnover amounted to AED 239.13 million on Thursday, compared to AED 208.06 million on Wednesday. Trading volume reached 115.87 million shares, compared to 83.199 million.
Eshraq Properties was the value leader after generating AED 64.51 million from the exchange of 54.55 million shares.
The banks sector topped gainers with a 0.84% increase after Invest Bank, Abu Dhabi Commercial Bank (ADCB), and the National Bank of Abu Dhabi (NBAD) rose 11.11%, 4.14%, and 0.47%, respectively.
The real estate sector levelled up 0.70% as Eshraq Properties and Aldar Properties grew 1.74% and 0.42%, respectively. The telecom sector also added 0.28% as Etisalat jumped 0.28%.
The insurance sector sank 0.62% after Al Buhaira National Insurance and Al Khazna Insurance Company (AKIC) retreated 9.62% and 4.44%, respectively.
Medium-term investors should build new positions, while short-term traders should not trade unless the main index breaks above 5,000-5,100 points, Radwan added.
